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Regulation is not a panacea. There are troubles with rate regulation. In our litigious society, the legal proceedings contained in rate regulation are not inexpensive for any of the parties involved, the state, public interest groups, and the firm. Because of the closeness of the legal advocates, economists, and others contained in the litigation of rate cases, there have been accusations that the public utility commissions have been over-taken by the industries they regulate. The capture theory of regulation is that the retired executives, and economists and lawyers who have made their mark defending utilities have been appointed to public utility commissions, thereby permitting the utilities to regulate themselves. While there have been instances where conflicts of interest have been noted, this "capture theory of regulation" probably overstates the relations among the industries regulated and the public utility commissions in most jurisdictions.
In 1939 the U.S. economy was operating where in the production possibility curve?
The sales of a company are the part of the total sales of industry. If the conditions of industry changes then the sales of each of the firm in the industry is affected. All teh ti
This firm will maximize profits by producing the level of output that corresponds to point: a. b. c. or d. ?? Refer to Figure for a perfectly competitive firm. Given the
Using tools of indifference curve, highlight on consumption in business economics.
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how to estimate costs?
HOW TO REDUCE SMOKING USING INDIFFERENCE S AND BUDGETLINE
3. You plan to sell a sunglasses clip that you can attach to a car''s sun visor. You can purchase the goods from a wholesaler at $2 a piece and there is an overhead cost of $500 pe
what is the total cost if the price of 10,quantity demanded is 900000, at $20 it is 800000? The author is paid 2 million dollars to write a book, the marginal cost of publishing t
A newspaper recently lowered its price from 50 cents to 30 cents. As it did, the number of newspapers it sold increased from 240,000 to 280,000. i) Over this price range what
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