Please answer the following question om 150+ words. I must have this within the hour. Here is the question:
*Analyze the effect of government interventions, taxation, and regulations on economic behavior.
· Two types of regulations are price and social. Price regulation – firms are subject to price controls and have a government entity that regulates the firm. Social regulation – make sure goods and services are produced safely.
· As a government intervention, the government can take over and own the monopoly firm to help deal with the problems associated with monopolies.
· Tax incentives for individuals who change their consumption to be the most advantageous to the individual.
· What is an example of a good government intervention?
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