Nabamitta is a doctor in a foreign country.When she first began medical school the number of doctors in her country was strictly limited by the government.Although the barriers to becoming a doctor were high,she invested nearly a decade of her life attempting to get a license because she knew if she received one she would be assured of a steady stream of patients.Soon after receiving a license,however,her country eliminated all barriers to entry in medical services.The result of the deregulation will likely be _____ for past license holders such as Nabamitta.

Question

Quizplus · Accepted Answer

With the elimination of barriers to entry in medical services, there will likely be an increase in competition, resulting in transitional losses for past license holders like Nabamitta. They may experience a decrease in the number of patients and a decrease in income as a result of increased competition.

Nabamitta Is a Doctor in a Foreign Country