Question: Explain why Amazon's decision to raise the minimum wage is an example of regulatory capture (mention different types of market competition, define market power, explain

Explain why Amazon's decision to raise the minimum wage is an example of regulatory capture (mention different types of market competition, define market power, explain the reasons for market monopolization, outline the consequences of market monopolization, mention rent seeking activity, and regulatory capture)

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2. Find out if there are other reference points that can be used as reasonable alternatives.

1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.