The services of real estate brokers are provided in a competitive market.If the state Board of Realtors enacts several requirements that limit the number of real estate brokers,then consumer surplus will most likely
A) increase.
B) decrease.
C) remain unchanged.
D) There is not enough information to answer.

Question

Quizplus · Accepted Answer

Limiting the number of real estate brokers would decrease competition, which would likely lead to higher prices for consumers and a decrease in consumer surplus.

The Services of Real Estate Brokers Are Provided in a Competitive