Microeconomics 14th Edition by James Gwartney ,Richard Stroup,Russell Sobel ,David Macpherson

Exercise 2

"The superiority of the competitive market is the positive stimuli it provides for constantly improving efficiency, innovating, and offering consumers diversity of choice." This quotation is from Alfred Kahn, the architect of transportation deregulation during the 1970s. Evaluate the statement. Is it true? Discuss.