For Week 8, write a paper that describes, examines, and analyzes some facet of a

Question

For Week 8, write a paper that describes, examines, and analyzes some facet of a government's involvement or role in the marketplace. I will let you choose the specific subject matter of the paper as long as it relates to Managerial Economics and the material in Chapter 14 of our text.

You may choose the level of government, the nature of the role or involvement, and how you approach the chosen subject. I want to provide you as much freedom as possible with this paper.

PLEASE CITE ALL SOURCES. This topic paper should be 2-3 pages long, plus a citation page.

Some topics in Chapter 14 of Managerial Economics and Business Strategy are:

Market Failure

Market Power (antitrust policy, price regulation)

Externalities (The Clean Air Act)

Public Goods

Incomplete Information (Rules against insider trading, certification, Truth in Lending, Truth in Advertising, Enforcing Contracts)

Rent Seeking

Government Policy and International Markets

Quotas

Tariffs (Lump-Sum Tariffs, Excise Tariffs)

Explanation / Answer

Governments play a key role in the marketplaces through their rules, regulations and policies. According to the text, Managerial Economics & Business Strategy by Michael R. Bay, one of the main reasons governments have a presence in the market is due to the marketplace not operating efficiently or in the best interest of society. Thus, the government enforces rules/policies when it thinks the market will not act in the best interest of society. There are several examples of government

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