Research and analyze the effects of the following government policies on the mar

ID: 1178477 • Letter: R

Question

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

Include discussion of the following questions when appropriate:

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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