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Competition is more likely to exist when:
A. there is easy entry into and exit out of industries.
B. a government-issued license is required to set up a firm in an industry.
C. the government purchases most goods and services.
D. economic power is concentrated among a few large firms.
Ā
Why do you suppose that employment growth is about 20 percent greater in unlicensed occupations than in licensed occupations?
What do you supppose a typical state government does with the millions of dollars of occupational license fees it receives each year?