MACROWSNotes15.pdf - 57 Award 1.00 point Regulatory capture...

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57. Award: 1.00 point 58. Award: 1.00 point Regulatory capture often occurs because of which of the following? Government officials want stronger control over industry regulation. Nearly everyone with expertise works in the regulated industry. Patent law allows firms to gain monopoly power easily and therefore control a market. Consumer groups are effective at lobbying the government for industry regulation. References Multiple Choice Difficulty: 02 Medium Learning Objective: 05-02 Discuss government failure and explain why it happens. Which of the following is considered a potential solution to some regulatory capture? bringing industry experts into the regulatory process creating a standard set of regulations for all industries deregulation of the industry government subsidies for firms in the industry References Multiple Choice Difficulty: 02 Medium Learning Objective: 05-02 Discuss government failure and explain why it happens.
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