The Scholar Activity Management Essay Research Paper (Essay Sample)
Please complete the essay in graduate work, your essay paper should have the essential components of Introduction/Discussion, Methods/Methodology, Results, Analysis and Conclusion. Additionally, at the graduate level, some more theoretical (peer-reviewed) research tangentially related to the article concepts, backed by critical analysis, synthesis and personal assessments would be needed for full credit.
Unit VII Scholarly Activity
Review and answer the following questions:
1. What is deadweight loss and how does it impact consumer consumption, and government public planning?
2. Explain economic efficiency, wealth transfers, and cost-benefit analysis in relation to government regulation.
3. Describe the three types of market failures due to monopoly, externalities, and imperfect information.
4. In each of the following situations, explain whether an externality is present.
In your answer, address how government intervention is involved. Mine safety has improved in recent years. Nonetheless, mining accidents result in 50 to 100 deaths per year and thousands of lost work days due to injury. Large brokerage and financial service companies conduct intensive introductory training programs for new hires, many of whom, once trained, leave the company within the first year to work for competitors. The volume of email spam has grown exponentially in the last five years. A husband and wife who have put off buying a house suddenly find themselves priced out of the market by rocketing real-estate prices.
5. Suppose Coca-Cola and Pepsi were to announce plans to merge into a single global soft-drink company. What would be the possible effects on soft-drink consumers? What kind of regulatory scrutiny should the U.S. government cast on the proposed merger? Your response must be a minimum of three pages in length, and you should number each question so that it is clear which question is being addressed. You must use at least one academic source, one peer review in addition to your textbook (Samuelson, W. F., & Marks, S. G. (2015). Managerial economics (8th ed.). Hoboken, NJ: Wiley).
All sources used, including the textbook, must be cited and follow APA guidelines, and your paper should be formatted in APA style to include a title and references page.
The deadweight loss is a loss the society has to suffer from due to market inefficiency. The price ceilings like rent control and price control, price floors like the living wage and minimum wage, as well as taxation can potentially create the deadweight loss, creating a mess for the entire nation. It leads the government to plan and implement new policies and can cause problems for consumers in the long run. If the balance between demand and supply is not maintained, then the consumer consumption is likely to be impacted (Guivarch & Hallegatte, 2012, p. 103). Sometimes the government has to buy more products from the outside world to fulfill the requirements of consumers, and sometimes it becomes impossible to balance the demand and supply because compared to the supply or availability of the products, the demand becomes significantly lower, disturbing the economy of the state. Taxes are said to create deadweight losses to an extent as they prevent people from purchasing the items they love the most. For instance, if the tax on a particular food item is more than the actual budget of the consumer, he will skip the idea of buying that item, and it will eventually lower the consumer consumption (Guivarch & Hallegatte, 2012).
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