Consider two different ways of beating your competition. One way is to offer your customers lower prices

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Consider two different ways of beating your competition. One way is to offer your customers lower prices and better service. The other is to get a law passed that raises your competitors’ costs—for example, by imposing special operating requirements on them. Can you see any difference between these two methods, assuming that both succeed in keeping your competition out?

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The Economics of Public Issues

ISBN: 978-0134018973

19th edition

Authors: Roger LeRoy Miller, Daniel K. Benjamin, Douglass C. North

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