Reference no: EM13206471
Research and analyze the effects of the following government policies on the market equilibrium. Increases in the Minimum Wage Restrictions on International Trade Pollution Controls Natural Monopolies and Antitrust Regulation
1.Increases in minimum wage.
2.Restrictions on international trade.
3.Pollution Controls.
4. Natural Monopolies and anti-trust regulation.
When analyzing these policies, include some discussion of the following points when appropriate: What is the purpose of the policy? Why is the policy necessary? The welfare of consumers, producers, and society (the winners and losers) before and after the policy The distribution of costs and benefits Does government intervention improve the situation?
1. Explain key microeconomic terminology.
2. Differentiate between microeconomics and macroeconomics.
3. Create and use economic graphs and numerical models to analyze and solve microeconomic problems.
4. Explain the costs and benefits of international trade, including calculation of gains from trade.
5. Analyze the impact of government activity in markets.
6. Determine optimal consumer buying decisions in the context of utility theory.
7. Compare and contrast optimal pricing and output decisions in various market structures.
8. Apply supply and demand theory to both product and factor markets.
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: What is the purpose of the policy Why is the policy necessary The welfare of consumers, producers, and society (the winners and losers) before and after the policy The distribution of costs and benefits Does government intervention improve the sit..
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