The primary purpose of economic regulation of an industry is to

Question

Quizplus · Accepted Answer

The primary purpose of economic regulation is to control the prices charged by the regulated industry in order to protect consumers from monopolies, promote competition, and ensure fair pricing. This can be done through various mechanisms such as price ceilings, price floors, or rate setting. Economic regulation does not necessarily involve increasing taxes, reducing output, or controlling hiring and firing within the industry.

The Primary Purpose of Economic Regulation of an Industry Is