Describe the welfare costs of a monopoly

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Reference no: EM13118637

1.) With an economic perspective write a brief summary of the current event article

- The Washington Post
"Coming Soon to an Airport New You - Flight Delays" 4-19-2013

2.) Write your opinion and application of this article to your life

1. Describe the welfare costs of a monopoly.

2. Discuss the regulator organizations that monitor anti-trust in America. Name these organizations and their functions.

3. Summarize in 100 to 150 words the concept of determining labor market equilibrium

4. Summarize in 100 to 150 words the elements that determine the minimum wage in America.

5. Define a monopsony market for labor. Is it a wage maker or taker? What does the supply curve look like and why? Discuss the relationship between the marginal labor costs and wage rates. What determines the amount of labor that a firm hires?

6. Name and discuss the different types of labor unions. Be sure to include specifics.

Reference no: EM13118637

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