Suppose the Transportation Industry Has Been Regulated for Many Years

Multiple Choice

Suppose the transportation industry has been regulated for many years. Government now proposes to deregulate the industry, only to find that firms in the industry oppose this action. This is consistent with the

A) public interest theory of regulation.
B) theory of natural monopolies.
C) legal cartel theory of regulation.
D) Alcoa and U.S. Steel court decisions.