Background: Currently, the safety, purity and efficacy of products known as 'nutritional supplements' (e.g. vitamins, minerals, proteins etc.) are only loosely regulated in the U.S. For each of the following short-run policy scenarios, explain how the policy described might cause a shift of the supply and/or the demand curve in the market specified, using terms like "outward/inward" or "up/down." Explain what would likely happen to equilibrium price and quantity. Assume that these scenarios do not occur simultaneously. Optional: If you would like to upload any additional files associated with your response to this question (e.g., graphs), see the "File upload" questions available after Question 22. Graphs are not necessary, but may be used to award partial credit. Scenario 1: In response to concerns for public safety, Congress passes strict new legislation and provides funding for enforcement, including a ban on the import of any such products from outside the country (including those sold online or in person). Scenario 2: Strict new efficacy, safety and labeling standards for products manufactured in the U.S. (similar to those applied to prescription only or over-the-counter medicines).Some evidence suggests that firefighters may experience significantly higher lifetime risks of certain cancers. This may be because they are frequently exposed to carcinogens in the form of smoke from burning materials, particularly those containing plastics or other man-made materials. Workmen's Compensation insurance claims to cover job-related disability of this sort are often denied because individual cases cannot be definitively tied to on-the-job conditions. Young people training for and entering the trade are generally unaware of this potential hazard. Identify at least three types of market failure underlying the problems described above, and describe policy approaches that might be appropriately applied to solve each market failure you identify. Optional: If you would like to upload any additional files associated with your response to this question (e.g., graphs), see the "File upload" questions available after Question 22. Graphs are not necessary, but may be used to award partial credit