Regulation Is Appropriate If

question 109

Multiple Choice

Regulation is appropriate if

• A)Government failure exists.
• B)Market failure exists and the benefits of regulation exceed the costs.
• C)It improves market outcomes regardless of costs.
• D)An economic profit is being earned.

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Definitions:

Executrix

A female executor; a woman appointed by a will to execute the will's terms and administer the estate of the deceased.

Written Promise

A written promise is a documented commitment by one party to perform or refrain from performing specified actions.

Course of Dealing

A sequence of previous conduct between parties to a contract that establishes a common basis for their understanding.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.