Nabamitta is a doctor in a foreign country. When she first began medic

Nabamitta is a doctor in a foreign country. When she first began medical school the number of doctors in her country was strictly limited by the government.

Although the barriers to becoming a doctor were high, she invested nearly a decade of her life attempting to get a license because she knew if she received one she would be assured of a steady stream of patients. Soon after receiving a license, however, her country eliminated all barriers to entry in medical services. The result of the deregulation will likely be _____ for past license holders such as Nabamitta. a. transitional gains b. decreased competition c. transitional losses
d. a new regulatory cartel

ANSWER

c