What does deregulation typically aim to achieve in an industry?

Deregulation typically aims to achieve greater market efficiency and competition by reducing or eliminating government rules that restrict the entry of new participants into an industry. By creating a more open environment, deregulation encourages new firms to enter the market, which can lead to more choices for consumers, lower prices, and enhanced innovation.

When barriers to entry are lowered, new companies can introduce fresh ideas and services, helping to stimulate competition. This increased competition can disrupt any existing monopolies or oligopolies, leading to a more dynamic market. Overall, the intention behind deregulation is to foster a marketplace where competition can thrive, providing consumers with more options and promoting better industry practices.