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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

AT&T spent some Chapter 18, Problem 25CTQ, AT&T spent some million dollar. Lobbying Congress to block entry of competitors into the telephone million dollar. Lobbying Congress to block entry of competitors into the telephone market in 1978. Why do you think it efforts failed?

To determine

The reason that the AT&T efforts failed in spite of spending $10 million lobbying congress to put barriers on new entry into telephone market.

Explanation

The legislative group set the laws and regulations about the safe working environment, taxes etc. and every word of laws and regulations are studied by the Lobbyists.

Lobbyists suggest some changes in laws and regulations and convince legislative group because of which companies hire lobbyists so that changes in rules will be beneficial for companies.

AT&T fails due to antitrust laws and political norms...

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