Government controls of price, output, entry of new firms, and quality of service in industries where monopoly appears desirable are known as
A)antitrust regulation
B)economic regulation
C)social regulation
D)antimerger regulation
E)consumer advocacy regulation

Question

Quizplus · Accepted Answer

The government controls of price, output, entry of new firms, and quality of service in industries where monopoly appears desirable fall under the category of economic regulation. Economic regulation involves government intervention in the market to promote efficiency, protect public interest, and maintain fair competition. This type of regulation is usually applied to industries such as utilities, telecommunications, and transportation, where monopolies or oligopolies are common and where the public interest is at stake. Antitrust regulation, social regulation, antimerger regulation, and consumer advocacy regulation are all different types of government regulations that focus on different aspects of the economy.

Government Controls of Price, Output, Entry of New Firms, and Quality