1. Explain when safety regulations can lead to an increase in efficiency. What market failures lead to this? 2. Are new technologies a pareto improvement? Explain briefly. 3. 50% of the population has...

1. Explain when safety regulations can lead to an increase in efficiency. What market failures lead to this? 2. Are new technologies a pareto improvement? Explain briefly. 3. 50% of the population has household income of $20,000 and 50% of the population has household income of $80,000 Draw the Lorenz curve