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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

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BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 2, Problem 6DQ
Textbook Problem
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What is the role of government in a mixed economy?

To determine

To discuss the role of government in a mixed economy.

Explanation of Solution

A mixed economy is a combination of the capitalistic and socialistic economy.

The role of government in a mixed economy is as follows:

  • Government intervenes in mixed economy through public sector enterprises and provide public goods such as health, education, transport, and roads.
  • Government regulates the economic activities by making laws for the regulation of business activities in the economy and regulating monopolies and...

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