ECO 610 Managerial Economics

ECO 610 Managerial Economics.

Group Assignment 3

Concepts: Competitive Market and Government Regulation

Instructions

1. Please present your responses in good form. Support your work with appropriate references and in-text citations. Use APA throughout. Submit your assignment using MS Word only. Do NOT use PDF. 2. Submit only one copy per group. Add only the names of the group members present at the residency when this assignment was completed. 3. Submit your written assignment via Moodle no later Sunday, February 17 at 11:00 PM EST. Late submission will not be accepted. 4. Turnitin is active. Your Turnitin score need to be 25% or less. Turnitin score greater than 25% will be rejected and zero grade awarded.

Part A: How does government regulation affect the entry or exit of firms into the competitive market?

There has been much discussion that government regulations hinder the entry of firms in to the competitive market. Discuss the pros and cons of government regulation. Support your discussion with appropriate references. No Wikipedia

Part B: What makes a competitive market?

In the section entitled Low Barriers to Entry, this chapter lists six characteristics for a competitive market that can help an economy achieve the virtues of competition. The six characteristics are:

a) Many firms b) Identical products c) MC = p d) Low barriers to entry e) Zero economic profit f) Perfect information

However, these characteristics don’t always occur. Pick a market for a good or service with which you are familiar (for example, college textbooks or car insurance—but don’t

use these examples). Be sure you select a good or service produced by firms operating to make a profit. Don’t pick something produced by the government or a non-profit firm. 

1) In the market you selected, which characteristics are present? 

2) Which characteristics are absent? 

3) Pick one of the absent characteristics. Provide evidence to support your judgment that it is missing. 

4) For one of the absent characteristics you identified in (2), describe a government policy to remedy the shortcoming, so that more of the virtues of competition could be achieved. Explain why production would be more efficient and why there would be a more optimal mix of output.

Support your discussion with appropriate references. No Wikipedia

Part C: How does tax policy affect business decisions?

This chapter discusses the effects that tax policy has on business decisions. How do these taxes affect business decisions regarding investment and/or production decisions?

a) Property taxes b) Payroll taxes c) Profit taxes

Support your discussion with appropriate references. No Wikipedia

Part D: Is Antitrust Lynchpin or folly?

Economists generally agree that US antitrust policy is complex, changing over time, divided among several US federal government agencies, and subject to frequent court reversals. The underlying question remains whether the US needs more or less regulation of market structures.  Key questions are:

• Are US markets becoming less competitive because of mergers and acquisitions? • Are US markets becoming more competitive because of new technology? • Are US markets becoming more or less competitive because of globalization? • Is enough information available for wise antitrust enforcement?

Support your discussion with appropriate references. No Wikipedia

““““““““““““““`ERM I will add ppt for this ““““““““““

Your case study should be in your own words; quote very sparingly. Be concise. This should be a 5-7 page APA paper. You must address all section below for full credit. 

• SUMMARY: Summarize the case. Identify the main point (as in “What’s your point?”), thesis, or conclusion of this case. (5 points)
• SUPPORT: Do significant research outside of the book and demonstrate that you have in a very obvious way. This refers to research beyond article itself. This involves something about the company/organization/individual or other interesting related area. Show something you have discovered from your own research. Be sure this is obvious and adds value beyond what is contained in the case itself. (10 points)
• EVALUATION: Apply the concepts from the appropriate chapter. Hint: The appropriate chapter is the same number as your case. Be sure to use specific terms and models directly from the textbook in analyzing this case and include the page in the citation. (15 points)
• QUESTIONS: Address all the case questions. Be sure to answer each question fully. (15 points)
• SOURCES: Include citations on the slides and a reference slide with your sources. Use APA style citations and references. (5 points) The paper must be in Word and include titles corresponding to the headings above.  

Questions:

• How do Key Risk Indicators help companies identify emerging risks?
• How do Key Performance Indicators help companies to manage existing risks?
• If measuring performance is not a component of an ERM program, what is the effect on the overall quality of the program?

ECO 610 Managerial Economics

 

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