Several States Require Cosmetologists to Undertake 1,500 Hours or More

question 72

Multiple Choice

Several states require cosmetologists to undertake 1,500 hours or more of training in order to obtain a license to provide hair styling or braiding services. This is an example of

• A) antitrust legislation.
• B) government action that promotes competition.
• C) a barrier to entry
• D) the legal structure that is required for the operation of price-taker markets.

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Definitions:

Equity

The amount of ownership interest in an asset or business, after deducting all debts associated with that asset.