Please, answer all 12 questions; using the Economics HW4 attachment. Also, I have attached...

Question

Please, answer all 12 questions; using the Economics HW4 attachment. Also, I have attached PowerPoints for assistance.Chapter 10: Exercise Questions   	Would auctioning broadcast licenses be more efficient than having the Federal Communications Commission (FCC) assign licenses on basis designed by the FCC? Explain. 	Which of the three types of government policies- antitrust, social regulation, or economic regulation- is the basis for each of the following? Who benefits from the policy? 	Beautician education standards 	Certified public accounting requirements 	Liquor licensing 	Justice Department Guidelines 	The Clean Air Act 	The nutrition and labeling act 
	
Document Preview: Melissa BuehrlenInstructor SomersManagerial Economics05/20/2013Chapter 10: Exercise QuestionsWould auctioning broadcast licenses be more efficient than having the Federal Communications Commission (FCC) assign licenses on basis designed by the FCC?  Explain.Which of the three types of government policies- antitrust, social regulation, or economic regulation- is the basis for each of the following? Who benefits from the policy?Beautician education standards Certified public accounting requirementsLiquor licensingJustice Department GuidelinesThe Clean Air ActThe nutrition and labeling act“The Japanese or Chinese or Koreans or others, are beating us at every step.  We must act as they do.  We must allow and encourage cooperation among firms, and we must develop partnerships between business and government.”  Evaluate this argument. “The government should not be the sole provider of a good or service unless there is a compelling reason.”  What compelling reason?  Would you agree that issuing drivers’ licenses must be left to the government?What is a natural monopoly?  Can you think of an example of a natural monopoly?  If you can, explain why you consider it a natural monopoly.  Chapter 11: Exercise Questions1.) What types of products are phone services and electricity?2.) Why does a firm spend an enormous amount on advertising when the ads provide consumers virtually no information?  For instance, what does the advertisement showing the Rock of Gibraltar and suggesting that we should “own a piece of the rock” tell us?3.) Why do consumers pay twice as much for Bayer aspirin than for generic aspirin when they know that the two are chemically identical?4.) What does it mean to say that a firm should devote resources to an activity as long as society values that activity more than its values the resources allocated to that activity?5.) Using the following Marginal Revenue and Marginal Cost, determine the profit...

Robert · Accepted Answer

Melissa Buehrlen  
Instructor  Somers  
Managerial  Economics  
05/20/2013 
Chapter 10: Exercise Questions  
1.)  Would auctioning broadcast  l icenses be more efficient than having the 
Federal  Communicat ions Commission (FCC) assign l icenses on basis  
designed by the FCC?  Explain.
Auctioning broadcast  l icenses would be more rapid,  efficient  and 
transparent and would include more t ransparency.
Which of the three types of government policies - anti trust ,  social  regulation, 
or economic regulation- is  the basis for each of the  following? Who benefits  
from the policy?
a.)  Beautician education standards  -  Social  Regulation  
b.)  Certified public accounting requirements  -   Antitrust  
c.)  Liquor l icensing –  Social  Regulation  
d.)  Justice Department Guidelines  –  Social  Regulation  
e.)  The Clean Air Act  –  Economic Regulation  
f.)  The nutri t ion and labeling act  -  Antitrust  
The general  public,  government  & the society benefits  from the policy by 
promoting fai r pract ices,  t ransparency & ethical  practices.
2.)  “The Japanese or Chinese or Koreans or others ,  are beating us at  every 
step.  We must act  as they do.  We must al low and encourage cooperation 
among firms, and we must develop partnerships between business and 
government .”  Evaluate this  argument .
The Japanese,  Chinese & Koreans are very perfect  in their processes and 
are growing and developing in  all  aspects than the other  countries of the 
world.  Hence, i t’s  rightly said that  we must develop partnerships 
between business and governments in order to  devel op our own nation 
and business .
3.

Please, answer all 12 questions; using the Economics HW4 attachment. Also, I have attached PowerPoints for assistance. Chapter 10: Exercise Questions Would auctioning broadcast licenses be more...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment