Any factor that shifts the supply curve inward and to the left and does not affect the demand curve will raise the equilibrium price and reduce the equilibrium quantity

Social regulation is focused on all of the following EXCEPT

A) the impact of production on the environment and society. B) better working conditions, and safer and better products. C) a better quality of life through a less polluted environment. D) ensuring costs are minimized and benefits are maximized.

A fundamental reason that governments provide public goods is that

A) those goods are subject to the free-rider problem. B) negative externalities are part of the production process of those goods. C) public goods are merit goods. D) those goods are perfectly divisible.