According to Legend, How Old Was Lao-Tzu When He Resigned

question 26

Multiple Choice

According to legend, how old was Lao-tzu when he resigned his position?

• A) 120
• B) 90
• C) 160
• D) 100

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Definitions:

Public Interest Theory

Suggests that regulations are supplied in response to the demand of the public for the correction of inefficient or inequitable market practices.

Price-fixing Theory

The economic analysis concerning agreements between competitors to sell a product or service at a set price, limiting competition.

Public Ownership

Ownership of assets, enterprises, or resources by governmental organizations rather than individuals or private companies.

Natural Monopolies

Market situations where a single supplier is more efficient in serving the entire market due to high fixed costs and significant economies of scale, commonly seen in utilities.