81. The public interest theory of regulation holds that a regulatory agency: A)

Question

81. The public interest theory of regulation holds that a regulatory agency:
A) acts as the decision-making head of the industry it regulates.
B) encourages other regulatory agencies to deregulate their industries.
C) seeks to find market solutions that are economically efficient.
D) extends its regulatory powers over industries it was not intended to regulate.

82. The public choice theory of regulation:
A) holds that firms may have to be regulated in order to guarantee that certain goods and services are available to consumers.
B) is often justified by pointing to such things as pollution that are not considered by firms on their own.
C) is used to counter market failure.
D) holds that a regulatory agency often serves the interests of government bureaucrats over those of the public.

Explanation / Answer

81. C) seeks to find market solutions that are economically efficient 82. D) holds that a regulatory agency often serves the interests of government bureaucrats over those of the public

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