Licensing requirements for doctors,which are intended primarily to maintain the quality of persons who work in the profession,have no the effect on the profits of those individuals because the number of competitors is so large.

Question

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Licensing requirements for doctors can limit the number of individuals who are able to enter the profession, thereby reducing competition. This can lead to higher profits for those who are licensed, as there is less competition and they can command higher fees for their services.

Licensing Requirements for Doctors,which Are Intended Primarily to Maintain the Quality