The social interest theory of regulation assumes that
A) regulations maximize consumer surplus.
B) regulations set price equal to average total revenue.
C) public officials seek to minimize deadweight loss.
D) public officials seek gain through regulation for only their own constituents.

Question

Quizplus · Accepted Answer

Public officials seek to minimize deadweight loss because it is in the best interest of society as a whole.

The Social Interest Theory of Regulation Assumes That