WGU EGT1 Task 3 Student# In this essay I will discuss a few terms and how their relationships apply between regulation and market structures‚ as well as how regulation policies affect the market. A) There were 4 particular Antitrust Laws that were enacted with the primary purpose of protecting consumers‚ striving to achieve fair competition in the market place‚ and to achieve and allocate efficiency. The 4 Antitrust Laws that are major pieces of legislation are; The Sherman
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monopolies. The 4 key segments within this act are proposed to accentuate the Sherman Act. The first (Section 2) made pricing discrimination unlawful when not justified on the basis of cost differences and/or it decreases competition. The second (Section 3) bans binding contracts‚ when a manufacturer imposes that a buyer purchases additional goods/products as a condition for procuring a desired good/product. The third (Section 7) bans the purchase of stocks of a competing business when the result would
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releases‚ articles and media background information Competition legislation: information and contents designed on articles should be focusing on the business itself‚ not comparing the products with its business competitor to avoid any legal hassles 3. Online information Consumer legislation: all the business transactions and ordering details should be strictly following with the
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A. Concern in the late 1800s with society’s economic well-being‚ public pressure and the market control by oligopolist and monopolist also known as trusts the government enacted antitrust legislation. The Sherman Act of 1890 was the first legislation aimed at declaring restraint of trade and monopolization to be illegal. With the Sherman Act being somewhat vague the Clayton Act of 1914 sought to further empower the Sherman Act by banning price discrimination‚ prohibiting tying contracts‚ interlocking
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To: Company G CEO Date: February 20‚ 2013 Re: Comparing Company G against industry average The first ratio calculated was current ratio. This is done by dividing current liabilities by current assets. Current ratio is important because it shows the business’s ability to pay back the current liabilities with the current assets that they have available to them. At the end of 2011‚ the current ratio was at 1.86. In 2012‚ this ratio dropped to 1.80. The industry ranges from 3.1 (showing a strong
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To: Senior VP of Operations From: Jessica Torres‚ director of Human Resources Date: May 20‚ 2012 Subject: Federal Act Violations for 3 cases Situation A: The Family and Medical Leave act of 1993 states‚ that any eligible employee can take twelve weeks of unpaid time off for a family emergency. The family emergency must be one of the four cases: a birth of a child‚ being a caregiver for immediate family members with a serious illness‚ placing a child in foster care or placing them up for
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EGT1 Task 1 In this paper I am going to define a few common economic terms and explain their relationships to other economic terms. I will also explain how profit maximizing firms determine their optimal level of output and how a profit maximizing firm will react to different levels of marginal revenue. Marginal revenue is the extra revenue that will be made by a firm when the firm sells one additional unit of a product. Total revenue is simply the sum of a firm ’s sales of a specified quantity
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EGT1 TASK 4 “Americas Best Tae Kwon Do expands into South Korea”. Martial Arts organization teaching men‚ Women‚ and Children in the United States desires to open a “Dojang” or “Training Hall” in South Korea offering World Class Martial Arts and Competition training. A. Cross Cultural Differences: 1- Language barrier. 2- Curriculum validation/certification. 3- Country of Origin of retail goods. Language Barrier for Americas Best staff. In order to be accepted by local citizens
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EGT1 Task: 309.1.1.05‚ 06 In business there are certain factors that have to be evaluated before a company can see if a profit has been made. To even get to the point where a profit will be made there has to be a product that is sold whether it is a tangible or an intangible product. There has to be something that the business is selling in order to make that profit. The amount of profit that is attained is the outcome of the total revenue minus the total cost. This will then show the
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elasticity of demand positive. v) On the other hand‚ with complementary goods such as hotdogs and hotdogs buns. If the price of hotdogs increase‚ then no one would by buns since both complementary making the cross elasticity of demand negative. 3) Discuss income elasticity as it pertains to inferior goods and to normal goods (sometimes also called superior goods). c) Income elasticity of demand measure change due to income only. If a person
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