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A group of 6 children are choosing colored pencils to draw a picture. Each child is allowed to select one color. The available colors are green, red, and blue. If the second child refuses to use red pencils and the third child refuses to use blue pencils, then how many ways are there for the children to choose pencils? Assume that there are 12 pencils available of each color, and different children are allowed to choose the same color.
Regulatory Capture
A situation where regulatory agencies are dominated by the industries they are charged with regulating, often leading to decisions that benefit the industry rather than the public interest.
Industry Being Regulated
Refers to sectors or industries that are subject to governmental oversight and control to ensure safety, fairness, and compliance with laws.
Excessive Regulations
Refers to a situation where government rules and regulations become overly burdensome, often hindering business operations and innovation.
Regulatory Capture
A form of government failure that occurs when a regulatory agency becomes dominated by the interests of the industries it is charged with regulating.
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