Assignment task: Specifically, there are four major areas where costs can drive an adjustment:
1. Private Compliant Cost - Costs companies incur to implement a new policy or regulation
2. Government Sector Cost - Costs of Government Spending to execute, monitor and enforce the new regulation.
3. Social Welfare Cost - Indirect costs to society when the government implements these policies
4. Transitional Effects - Unintended costs transferred to other industries/individuals
Discuss a policy or regulation that interests you and provide evidence of or potential for expected or unexpected costs in one of the 4 key areas. Discuss the economic consequences of this policy including unintended results. Would you suggest that the government intervene and if so, what would you recommend?