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ABRID, or the Alabama Board for Registered Interior Designers, provides "public protection through examination and Certification" of interior designers in the state of Alabama. To become a registered interior designer in Alabama, applicants must fill out forms, submit a $300 application fee, provide proof of citizenship, a resume, and college transcripts. They must also be certified with the Council for Interior Design Qualification, which involves passing an exam and paying a fee of several hundred dollars. After this, there is an annual $160 license renewal fee.
The website says that using a registered interior designer "is an integral part of a successful project." Presumably, the ABRID would argue that its registration process protects consumers; given the information presented this week, aside from ensuring high quality interior design, why else might existing interior designers find it in their interest to protect the registration system? What side effects might the (one-time and annual) fees, training, and exam introduce into the interior designer market?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
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What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
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