Microeconomics: Theory and Applications with Calculus, 4e

8 Competitive Firms and Markets

The love of money is the root of all virtue.

—George Bernard Shaw

CHALLENGE The Rising Cost of Keeping On Truckin’

Businesses complain constantly about the costs and red tape that government regulations impose on them. U.S. truckers and trucking firms have a particular beef. In recent years, federal and state fees have increased substantially and truckers have had to adhere to many new regulations.

The Federal Motor Carrier Safety Administration (FMCSA), along with state transportation agencies in 41 states, administers interstate trucking licenses through the Unified Carrier Registration Agreement. According to ...