Before deregulation,government agencies frequently:

Question

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Before deregulation, government agencies often set prices for goods and services, which meant that businesses were shielded from competition and able to charge higher prices than they might if market competition were allowed to dictate prices. This artificial inflation of prices was done to protect certain industries or businesses from foreign competition or to support certain government policies, but it also discouraged innovation and entrepreneurship. Deregulation allowed for more competition and innovation, which led to lower prices for consumers and greater variety in goods and services offered.

Before Deregulation,government Agencies Frequently