Question
Term Paper
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
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