The objective of government regulation and competition policy can be described as a means to
A)promote economic efficiency.
B)make at least one person better off at the expense of others.
C)reduce inequality in the economy.
D)increase fairness in economic activities.
E)make all industries perfectly competitive.

Question

Quizplus · Accepted Answer

The main objective of government regulation and competition policy is to promote economic efficiency, which means ensuring that markets allocate resources in the most efficient way possible. This involves removing barriers to entry, preventing anticompetitive behavior, and promoting innovation and investment. Competition policy also aims to prevent market power and monopoly behavior, which can result in higher prices and lower quality products for consumers. Overall, the focus is on promoting competition and ensuring that markets function as efficiently as possible.

The Objective of Government Regulation and Competition Policy Can Be