Answer :
Final answer:
The importance of regulation in the economy is emphasized through the concept of 'There is no free lunch' in response to opponents of social regulation.
Explanation:
A caption that could serve as a retort to opponents of social regulation would be:
"There is no free lunch."
Opponents of social regulation argue for less government intervention in the economy, believing that free markets can self-regulate. However, the concept of "There is no free lunch" emphasizes that regulation comes at a cost and is necessary to prevent negative consequences.
This perspective highlights the ongoing debate between advocates of minimal government intervention and those who support regulations to address market failures and protect the public interest.
Learn more about Social regulation and the debate between government intervention and free markets here:
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