After watching Krugman?s video this week, do you concur with the assessment that growing income inequality threatens the middle class? Identify a competing argument, paper, and theorist. In your opinion, who is the most qualified voice that dissents from Krugman?s thesis? Why? Do you think that there is a moral or ethical factor in the growing income inequality? What can we do as a society to address this issue? What would be the best outcome for society? Why would that be the best outcome in microeconomic terms? Which author supports your position and why? Are there any legal issues that would have to be resolved regarding income inequality?
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Directions: Please respond to the questions below. Your submission must two to three pages in
length and utilize APA format. You must use at least three peer-reviewed sources and cite your
references in APA format. Please utilize LIRN to help you get started with your search. You
may visit the Academic Resource Center (ARC) for a guide on how to utilize LIRN successfully
and for APA guidelines.
Choose four real-world companies to represent each market structure type: perfect
competition, monopoly, oligopoly, and monopolistic competition.
Explain why the companies fit into the respective categories that you have chosen.
Compare and contrast the four companies in regard to their market structure characteristics,
including but not limited to: barriers to entry, number of firms in the market, short-term and
long-term profits, price elasticity of demand, etc.
In addition to the textbook readings, you watched hours of videos from experts in
microeconomic theory from world-class institutions. You have also read competing position
papers from three major economists and Nobel Prize-winning theorists. Write a paper about the
general competing theories between economists in today?s market as they relate to
microeconomic theory. Who are the theorists, what do they posit, and how do they support their
work? Be sure to cite at least three peer-reviewed sources in addition to the videos. Your essay
must be at least two pages in length and utilize APA format.
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