Question

When a government introduces regulations addressing worker safety and environmental protection, it affects businesses and consumers. Businesses face (lower cost, higher cost, less competition, or more competition) because they must alter existing infrastructure to meet regulations. As a result, consumers pay (less, more, or the same) for produced goods.

Answer 1

The statement is true that government poses regulations for workers safety and environment. This causes an increase in the cost of the business because new set ups are introduced because of the regulations and producers have to alter certain procedures. As a result of this, consumers have to pay more because of the cost of production increases.