Managerial Economics and Business Theory
Review and answer the following questions:
- In 100 words, what is deadweight loss and how does it impact consumer consumption, and government public planning?
- In 100 words, explain economic efficiency, wealth transfers, and cost-benefit analysis in relation to government regulation.
- In 100 words, describe the three types of market failures due to monopoly, externalities, and imperfect information.
- In each of the following situations, in 50 words each, explain whether an externality is present. In your answer, address how government intervention is involved:
- Mine safety has improved in recent years. Nonetheless, mining accidents result in 50 to 100 deaths per year and thousands of lost work days due to injury.
- Large brokerage and financial service companies conduct intensive introductory training programs for new hires, many of whom, once trained, leave the company within the first year to work for competitors.
- The volume of email spam has grown exponentially in the last five years.
- A husband and wife who have put off buying a house suddenly find themselves priced out of the market by rocketing real-estate prices.
- In 100 words, suppose Coca-Cola and Pepsi were to announce plans to merge into a single global soft-drink company. What would be the possible effects on soft-drink consumers? What kind of regulatory scrutiny should the U.S. government cast on the proposed merger?
Total Essay is a minimum of 3 pages.
Use at least two academic source in addition to the textbook…formatted in APA style.
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