The Justification for Occupational Licensing Laws Is That They Protect

Multiple Choice

The justification for occupational licensing laws is that they protect the public from incompetent practitioners (for example, lawyers and medical doctors) , but the laws also result in

A) higher prices and restrictions on the number of people who can enter the professions affected by the laws.
B) economies of scale.
C) ownership of a key input.
D) an increase in the amount of output required to achieve minimum efficient scale.