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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

What is the difference between the capture theory and the public choice theory of regulation?

To determine

Explain the difference between capture theory and the public choice theory of regulation.

Explanation

The aim of the capture theory of regulation is to correct market failures. Therefore, the regulator agency always likes to issue regulations. Therefore, the capture theory assumes that the outcome of issuing regulation will be advantageous to the regulated firms...

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