DQ 1:
What is an externality? Provide examples. How does an externality affect the market outcome? Is it possible for a government’s solution to a market failure to actually worsen the failure? Explain your answer.
DQ 2:
What are the differences among horizontal, vertical, and conglomerate mergers? What does the U.S. government hope to achieve through the use of its antitrust policy? How do the resolutions of the IBM®, ATT®, and Microsoft® antitrust cases differ? How does international competition affect domestic antirust policy?
DQ 3:
What is the cost/benefit approach that a typical economist