• Government Tools: Discuss tools available to the government to correct a market failure. Provide examples from the textbook.
• the textbook reference: Mankiw, N. G. (2021). Principles of microeconomics 9th Edition. Cengage .
• Supply and Demand Equilibrium: Describe how government intervention affects the supply and demand equilibrium. Refer to the simulation game to explain your responses.
• Consumer or Producer Surplus: Specify which government interventions cause a consumer or producer surplus. Explain how they impact consumer or produce surplus. Provide examples from the textbook.

THIS IS THE GAME SIMULATION !!!! THERE ARE TWO

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Personal Payoff Unit Price Cost Nuisance (per unit) 1 $3.97 $1.70 $0.13 $2.14 2 $3.56 $3.33 $0.13 $0.10 Total Nuisance caused by others -$1.07 Total $1.17Personal Payoff Unit Price Cost Nuisance (per unit) 1 $3.16 $1.70 $0.20 $1.26 2 $3.41 $0.20 Permit Market Payoff $0.00 Total Nuisance caused by others -$0.60 Total $0.66