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Social Regulation
A form of government intervention in the private sector that aims to protect public welfare, health, safety, and the environment.
Costs Of Production
The total expenses incurred by a company to manufacture a product or provide a service, including materials, labor, and overhead.
Natural Monopolies
Situations in which a single firm can supply a good or service to an entire market at a lower cost than what it would be if there were multiple firms due to economies of scale.
Public Interest Theory
A theory suggesting that government interventions and regulations are motivated by the need to protect and benefit the public at large.
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