Final answer:
The stage 'an industry specifically requests government regulation' is not a recognized stage of Tomain's life cycle regarding government regulation of an industry. additionally a government-enforced barrier to entry includes limiting taxicab licenses and requiring safety tests while owning a pure water spring and possessing a trademark do not involve the government.
Step-by-step explanation:
The question about Tomain's life cycle of government regulation of an industry is looking for an option that is not recognized as one of the stages. The recognized stages typically include: a) identification of a market failure, b) government regulation imposed as a rule, and c) the regulated industry adapts to or tries to influence the regulation. The option 'an industry specifically requests government regulation' is not typically outlined as a standard stage within Tomain's theory. Therefore, this is the correct answer.
When addressing barriers to entry:
- a. Government-enforced barrier to entry: A city passing a law on how many licenses it will issue for taxicabs.
- b. Government-enforced barrier to entry: A city requiring all taxicab drivers to pass a driving safety test and have insurance.
- c. Not government-enforced barrier to entry: Possession of a well-known trademark.
- d. Not government-enforced barrier to entry: Owning a spring that offers very pure water.
- e. Not a barrier to entry: An industry where economies of scale are very large compared to the size of demand in the market. This is more about the structure of the market than a barrier per se.
Lastly, the concept of regulatory capture refers to a situation where the firms being regulated overly influence the agency or regulatory body, leading to the enactment of regulations that benefit the firms rather than the public interest.