If government regulation increases price and thus decreases supply why does the government regulate any goods and services?

Governments regulate goods and services to protect public welfare, ensure safety, and maintain fair market practices. While increased regulation can raise prices and reduce supply, these measures often aim to address externalities, such as environmental concerns or health risks, that unregulated markets may overlook. Additionally, regulation can promote equitable access and prevent monopolistic practices, ultimately serving the broader interests of society.