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a. Briey explain the difference between economic regulation & antitrust policy--when & why would government employ the respective types of policy? (3 points) b. If

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a. Briey explain the difference between economic regulation & antitrust policy--when & why would government employ the respective types of policy? (3 points) b. If the government chooses to employ economic regulation, what are the 2 price/output options they might use? How would those options improve social welfare? Are there any drawbacks with respect to those options? (7 points) [don't scrimp on the details!]

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