Firms and consumer groups often try to influence government to adopt a policy that favors them. Others
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Firms and consumer groups often try to influence government to adopt a policy that favors them. Others who do not support lobbying arguing that, left alone, competitive markets maximize societal welfare. Which of the following policies would each of these three groups favor: a price ceiling, a price floor, a quota on the supply of a good, or no intervention?
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Lets break down the preferences of each group for each policy Firms lobbying for their interests Price ceiling Firms might lobby for a price ceiling if they believe it will limit competition and allow ...View the full answer
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