Assignment: Market Efficiency and Market Failures
Can you believe we are in our final summit session? This final summit revolves around the concept of elasticity of demand and its effect on consumers (you)! For this discussion, please investigate an industry market failure that has occurred within the last 10-years in the U.S. Identify the events that led to the market failure.
Discuss steps that should have been taken to self-correct the market failure and steps that are being taken to eliminate the need of another government bailout in the future. Is your chosen industry currently operating efficiently?
Locate a recent article or event (published within the last year) that highlights your relevant microeconomics topic. Use the Hunt Library, newspapers, new stations, or other credible sources to discuss how your topic aligns with microeconomics. Include the following in your discussion:
a) State the article or event you selected.
b) Identify the microeconomic concept(s).
c) Describe your findings.
d) Analyze the relevance to real-life applications.
Format your assignment according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the assignment, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.