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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Discuss the advantages and disadvantages of regulation (as you see it).

To determine

Explain the advantage and disadvantage of regulation.

Explanation

The advantage of regulation is that it would reduce the degree of the monopoly power, remove the marker failure and corruption, provide subsidy to positive externalities, impose a tax on the negative externality, prevent small scale business industries from the merging and market domination, and achieve effective resources allocation. In the case of monopoly power, the regulation will help to produce efficient goods and increase the economic welfare...

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