There are four essay questions for this final examination. Answers of at a least a full page are required for each and are to be presented in APA format. All opinion must be clearly supported by material covered in the course or in additional scholarly articles of your choice.
QUESTION #1: Construct a tutorial that shows users of it how to apply marginal cost and marginal revenue concepts to business operations with the goal of maximized profitability.
QUESTION #2: A public park in your area has become badly polluted by trash that users of it leave behind. What economic concept describes this? How can economic incentives be used to significantly reduce the problem?
QUESTION #3: Suppose that all countries remove restrictions on monopolies. What are the potential economic advantages of this? What are the potential disadvantages?
QUESTION #4: The Trump administration has asked you to develop a new trade agreement between the U.S. and Asian countries. In order to maximize economic benefits to all parties, what features would you include?