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microeconomics

Date Posted: 11/12/2017
Category: Economics
Due Date: 13/12/2017
Instruction
There are four essay questions for this final examination. Answers of at a least a full page are required for each and are to be presented in APA format. All opinion must be clearly supported by material covered in the course or in additional scholarly articles of your choice. This final examination must be submitted as a Word document in APA format, with all sources clearly referenced and cited, by 12/13. QUESTION #1 A) Suppose that all countries remove restrictions on monopolies. What are the potential economic advantages of this? What are the potential disadvantages? B) If a firm in a competitive market suddenly becomes a monopoly, how will their strategies change? QUESTION #2 A public swimming pool in your area has become badly contaminated by some of the people using it. What economic concept describes this? How can economic incentives be used to significantly improve water quality? QUESTION #3 Construct a tutorial that shows users of it how to apply marginal cost and marginal revenue concepts to business operations with the goal of maximized profitability. QUESTION #4 The Trump administration has asked you to develop a new trade agreement between the U.S. and Asian countries. In order to maximize economic benefits to all parties, what features would you include?
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