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Draw a supply curve for the face masks used by healthcare workers. Suppose that government regulation is changed so that it becomes much easier to make or sell face masks (perhaps the liability rules were rescinded so healthcare workers could not sue the maker of the product). As a consequence of this change, the number of makers of facemasks doubled. Using market supply curves, show the impact of this change in regulation on the number of facemasks produced.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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