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In the following figure, the first panel shows a market situation prior to regulation and the second panel shows the effects of regulation.Figure 14.2
In the figure,
D: Demand curve for automobiles
S1: Supply curve of automobiles prior to regulation
S2: Supply curve of automobiles after regulation
FG: Clean up cost per unit
-Restrictions on the types of food additives that breakfast cereal manufacturers can use is an example of a social regulation.
Local Law
Regulations and legal ordinances that are established and enforced by a municipal or regional authority.
State Law
Laws and regulations that are created and enforced by a state's legislative and judicial branches, distinct from federal or local laws.
Citatory
A reference tool or index used in legal contexts to locate citations of laws, cases, or legal precedents.
Shepard's Citations
A legal research tool that helps users track the history and subsequent treatment of cases, statutes, and other legal documents.
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