Which of the Following Statements Is True of the Rule

question 99

Multiple Choice

Which of the following statements is true of the rule of law?

• A) Rule-of-law nations adopt laws supporting the private market because it is in everyone's interest, including the lawmakers'.
• B) Under the rule of law, laws that are made are not generally and equally applicable.
• C) Its only aim is to prevent special interest groups to benefit at the expense of others.
• D) It adopts laws supporting the growth of the public markets over private markets, increasing economic growth of nations.
• E) It removes the power of the courts and creates an autocratic regime where businesses can freely invest and economic growth is high.

Understand the dynamics of interindustry competition and its effects on market structure.

Differentiate between the market power of firms in industries with identical concentration ratios but different Herfindahl indexes.

Comprehend the role of cartels in oligopolistic industries and the effects on output and price.

Identify the applications and implications of game theory in the analysis of oligopolistic market behavior.