If a special interest group represents 10% of society and gets a public policy p

Question

If a special interest group represents 10% of society and gets a public policy passed that costs society $1 million and benefits that special Interest group $1 minion, the net payoff for the special interest group will be: $100.000. $0. $900,000 $1,000.000 A firefighter Is likely to earn than a receptionist because more; the Job Is more fun. more; the Job is more prestigious. move; the Job Is more dangerous. less; the Job has unattractive If there are below normal short run profits In an industry, there will be: entry. exit.

Explanation / Answer

42. $ 0

Net Payoff = Selling price - Cost price = Net profit or loss from sale of a particular thing = $ 1 million - $ 1 million = $ 0

43. more; the job is more dangerous

Job of firefighter is more difficult and dangerous compared to receptionist.

44. exit of firms because firms are not able to cover its costs.

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