In general, the deregulation of the airlines and interstate trucking led to __________.LO5) a) lower costs and lower prices b) higher costs and higher prices c) higher costs and lower prices d) lower costs and higher prices

Deregulation is the process of removing or reducing government regulations, typically in an economic market. This allows businesses to operate more freely and compete, which often results in lower costs and better service quality for consumers.

When an industry is deregulated, businesses have the opportunity to become more efficient by adjusting their operations and costs. This, in turn, can result in lower costs for consumers because companies can pass on their savings. Additionally, the competition tends to bring down prices as businesses seek to attract customers.

Based on our analysis that deregulation can lead to improved efficiency and increased competition, we can choose the correct answer that reflects the general impact of airlines and interstate trucking deregulation. (a) lower costs and lower prices. This option is correct, as deregulation can lead to increased efficiency and competition, resulting in lower prices for consumers. (b) higher costs and higher prices. This option is not correct, as deregulation can lead to more efficient businesses and increased competition, which typically results in lower prices for consumers, not higher prices. (c) higher costs and lower prices. This option is not correct, as deregulation generally helps businesses to reduce their costs, rather than increase them. (d) lower costs and higher prices. This option is not correct because even though deregulation can lead to lower costs for businesses, the resulting competition usually leads to lower prices for consumers, not higher prices. So, the correct answer is: (a) lower costs and lower prices.