Who regulates the regulators? Is it a problem?
Answer to relevant QuestionsAt the core of the externalities issue is the lack of clarity concerning property rights. Discuss. What is a public good? How does it differ from a near-public good? When the price of houses increases, the wage rates for housing construction workers increase. What is the connection? What is the relationship between a firm's marginal labor cost and the industry's supply curve of labor? If you were a union organizer, how would you go about persuading workers to join the union? You can assume they are familiar with the economic concepts discussed in this chapter.
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