The justification for occupational licensing laws is that they protect the public from incompetent practitioners (for example, lawyers and medical doctors) , but the laws also result in
A) higher prices and restrictions on the number of people who can enter the professions affected by the laws.
B) economies of scale.
C) ownership of a key input.
D) an increase in the amount of output required to achieve minimum efficient scale.
Correct Answer:
Verified
Q45: Hewlett-Packard will not raise the prices of
Q46: If economies of scale are relatively important
Q47: Which of the following is not an
Q48: According to the textbook, of all barriers
Q49: For many years the Aluminum Company of
Q51: The people firms hire to attempt to
Q52: Consider a U-shaped long-run average cost curve
Q53: The profit-maximizing level of output and the
Q54: Which government agency publishes four-firm concentration ratios?
A)the
Q55: If economies of scale are relatively unimportant
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents