Public choice theory assumes that government makes optimal policies to respond to the shortcomings of private markets.

Name: Public choice theory assumes that government makes optimal policies to respond to the shortcomings of private markets.
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Public choice theory actually assumes that government actors, like individuals in private markets, act in their own self-interest and face various limitations and incentives that can lead to suboptimal policies.

Public Choice Theory Assumes That Government Makes Optimal Policies to Respond