• Describe how government intervention affects the supply and demand equilibrium. Refer to the simulation game to explain your responses.

Personal Payoff Unit Price Cost Nuisance (per unit) $4.34 $1.70 $0.13 $2.51 2 $3.52 $3.33 $0.13 0.06 Total Nuisance caused by others -$1.07 Total $1.50 End of Game 83 12 00:00Personal Payoff Unit Price Cost Nuisance (per unit) 1 $2.99 $1.70 $0.20 1.09 2 $3,16 $3.41 $0.20 -$0.45 Permit Market Payoff $3.42 Total Nuisance caused by uller's -$0.40 Total -$3.18 End of Game 00:00