ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Which of the following are correct for the economic theory of supply and demand? 1. 11. Demand for regulation comes from special interests groups and supply of regulation comes from politicians. Special interests are composed of unselfish individuals who stand to gain from proposed government legislation while supply often act as entrepreneurs proposing regulations of their own and mobilizing special interests. III. The demanded legislation typically benefits all special interests in some way, but some gain more than others I only I and III Ill only I, II and III
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Transcribed Image Text:Which of the following are correct for the economic theory of supply and demand? 1. 11. Demand for regulation comes from special interests groups and supply of regulation comes from politicians. Special interests are composed of unselfish individuals who stand to gain from proposed government legislation while supply often act as entrepreneurs proposing regulations of their own and mobilizing special interests. III. The demanded legislation typically benefits all special interests in some way, but some gain more than others I only I and III Ill only I, II and III
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Step 3: Explain the incorrect statements
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