Competition among sellers improves the quality of goods for consumers. Could this mechanism work for the private

Question:

Competition among sellers improves the quality of goods for consumers. Could this mechanism work for the private supply of prisons?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Law and economics

ISBN: 978-0132540650

6th Edition

Authors: Robert cooter, Thomas ulen

See More Books

Question Posted: Aug 10, 2012 03:48 AM

See More Questions

Private markets ration goods among consumers in an efficient way. Explain what this statement means. Does it imply that there is no basis for thinking that some other distribution would be better?
This chapter suggests that consumers judge service quality along five key dimensions: tangibles, reliability, responsiveness, assurance, and empathy. Which dimension is the most important to you when...
The monetary policy transmission mechanism ? works via changes on money supply works via the influence of the Bank of Canada's "policy rate" on interest rates, asset prices and the foreign exchange...
In your hometown what system is used to price the publicly supplied water? Why was that pricing system chosen? Would you recommend an alternative?
What changes would you expect in the strength hardness, ductility, and anisotrophy of annealed metal after they have been drawn through dies? Why?
How does a minimizing problem differ from a maximizing problem? lop4
Using the scatter plot, explain why the y-intercept changed more than the slope when the outlier was omitted.
Pettit Company reports net income of $90,000 in 2014. However, ending inventory was understated $7,000. What is the correct net income for 2014? What effect, if any, will this error have on total...
Parow Co. manufactures and sells to wholesalers approximately 300,000 packages per year of underwater markers at $3.94 per package. Annual costs for the production and sale of this quantity are shown...
Given the ER schema for the MOVIES database in Figure 3.25, draw an instance diagram using three movies that have been released recently. Draw instances of each entity type: MOVIES, ACTORS,...
Assume that criminals discount risk and futurity more than other people. What policies might reduce crime by changing this fact?
What are the main sources of randomness in the contemporary criminal justice system?
Design Inc., in Newport, Rhode Island, entered into a contract with Buenavista, S.A. in Barcelona, Spain, to buy 1,000 sheets of stained glass. The contract contained a delivery clause that read FOB...
Woodland Wearables produces two models of smartwatches, the Basic and the Flash. The watches have the following characteristics:Basic Flash Selling price per watch$ is 270$ 460 Variable cost per...
Based on the information provided and recognizing the value of coordinating across its portfolio of businesses, how should LendingTree manage these newer businesses? * as more integrated units * as...
Trust Fund Worksheet Background An inter vivos trust was created by Isaac Posney. Isaac owned a large department store in Juggins, Utah. Adjacent to the store, Isaac also owned a tract of land that...
A popular theory is that presidential candidates have an advantage if they are taller than their main opponents. Listed are heights (in centimeters) of randomly selected presidents along with the...
Gracia Enterprises operates across five industries. Task 1 : After reviewing the information provided, determine which of the five operating segments are reportable based on the revenue test, asset...
Why is it important to consider who designed the royalties model, and how it will be administered and managed in the future?
Compile data on consumption and expenditures for the following categories in 30 different countries: (1) food and beverages, (2) clothing and footwear, (3) housing and home operations, (4) household...
Public interest and public policy are the same thing. True/False
Jack Duran, president of Colorado Carpet Installation, Inc., began negotiations with Fred and Zuma Palermo for the sale and installation of carpeting, carpet padding, tile, and vinyl floor covering...
On November 1, the Kansas City Post Office Employees Credit Union merged into the Kansas City Telephone Employees Credit Union to form the Communications Credit Union (Credit Union). Systems Design...
Richardson hired J. C. Flood Company, a plumbing contractor, to correct a stoppage in the sewer line of her house. The plumbing companys snake device, used to clear the line leading to the main...
Question 3 (24 marks) Wonderful Technology Company Limited sells computers and accessories. Data of the store's operations are as follow: Sales are budgeted at $400,000 for December 2019, $420,000...
Kratz Manufacturing Company uses an activity-based costing system. It has the following manufacturing activity areas, related cost drivers and cost allocation rates: Activity Cost Driver Cost...
You are a Partner with Fix-It Consultants and have been engaged in an advisory capacity with a software company, called MoveFast. The company is seeing a sharp decline in revenue, with the primary...

Competition among sellers improves the quality of goods for consumers. Could this mechanism work for the private

Question:

Step by Step Answer:

The incentive to earn profit in a competitive environment spurs costcuttin...View the full answer

Law and economics

Students also viewed these Business Law questions