The wave of deregulation starting in the late 1970s followed improvements in production technologies and:
AA rise in legal monopolies
BA fall in consumer demand
CA shortage of raw inputs
DA sense markets could serve
Answer & Solution
Correct answer: D. A sense markets could serve
1. Policy changed because both the technology and the prevailing view changed.
2. There were improvements in production technologies.
3. There was also a general sense that the markets could provide services adequately.
4. The combination led to a wave of deregulation, starting in the late 1970s and continuing into the 1990s.
5. Deregulation removes legal barriers rather than creating them.
_Source: OpenStax Principles of Microeconomics for AP(R) Courses 2e (CC BY 4.0), Ch 9 'Monopoly', sections 9.1-9.2_
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