Managerial Economics & Business Strategy 8th Edition by Michael Baye,Jeff Prince

تمرين 5

A number of professional associations, such as the American Medical Association and the American Bar Association, support regulations that make it more costly for their members (for example, doctors and lawyers) to practice their services. While some of these regulations may stem from a genuine desire for higher- quality medical and legal services, self-interest may also play a role. Explain.