Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter15: Economic Regulation And Antitrust Policy
Section: Chapter Questions
Problem 5QFR
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Question
Between 1926 and 1978 the Federal Government closely regulated the airline industry. What happened when the industry was deregulated?
Group of answer choices
Some airlines went bankrupt while new companies entered the industry
The level of competition immediately fell.
Every airline saw increased profits immediately.
Employment in the industry fell.
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