The Public Interest Theory of Industrial Regulation Contends That

question 97

Multiple Choice

The public interest theory of industrial regulation contends that

• A) while industrial regulation is sound in theory, bureaucrats allow monopolists to obtain excessive profits.
• B) regulated monopolies are tantamount to legal cartels.
• C) the objective of regulation is to protect the public from the market power inherent in natural monopolies.
• D) firms in some industries want to be regulated.

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Definitions:

Paul Farmer

An American anthropologist and physician who was a pioneer in global health, focusing on treating infectious diseases in impoverished communities.

Anthropology

The study of humankind in all times and places.

Human Rights

The fundamental rights and freedoms that every person is entitled to, regardless of nationality, sex, ethnicity, religion, or any other status, including rights to life, liberty, and the pursuit of happiness.

Margaret Mead

An American cultural anthropologist known for her studies and publications on the socialization of children and culture in the South Pacific and Southeast Asia.