A Caption That Could Serve as a Retort to Opponents

question 163

Multiple Choice

A caption that could serve as a retort to opponents of social regulation would be

• A) "There is no free lunch."
• B) "You can't push on a string."
• C) "Less government is not always better."
• D) "Restraints of trade must be outlawed."

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Definitions:

Informal Collusion

A scenario where businesses unofficially agree to certain practices, such as price-setting or market-sharing, without formal agreement, often to reduce competition.

Cartel

A cartel refers to an association of independent businesses or countries that collaborate to manipulate prices and limit competition for certain goods or services.

Cartel

An agreement between competing firms to control prices or exclude entry of a new competitor in a market, usually to increase market power and profits.

Formal Agreement

refers to a legally binding contract between parties that outlines specific obligations and rights.