Answer the questions below and each question has a part to complete required for that question

You have been contracted by the government of your country to provide recommendations on the regulation of the national textile industry. Currently, the textile industry which resembles features of the perfectly competitive market is completely unregulated. Using the concepts covered in the class, please provide your advice to the problems below.

1. One of the biggest social problems in the textile industry is child labour which, among other things, reduces school attendance. The government is considering two types of interventions and asked you to explain the process through which each of them affects the equilibrium amount of child labour and wages using words (explain the impact on demand and/or quantity demanded, supply, and/or quantity supplied as appropriate) and include well-labelled graphs.

a. Provide rewards for children who attend school [2pt]

b. Impose fines on employers who employ children [2pt]

2. Consider how own price elasticity of labour demand and supply affects the market outcomes for both policies. In addition to writing your answer in words, use well-labelled graphs to support your answer. Please draw new graphs, rather than using those from question 1.

a. How does own price elasticity of demand impact the effects of providing children who attend school with rewards on prices and the amount of child labour? [2pt]

b. How does the elasticity of supply impact the effectiveness of a fine on the employers who employ children? [2pt]

3. Production of textiles pollutes the groundwaters which negatively affects people and animals living in its vicinity.

a. What policy would you suggest to bring the production to the socially efficient level? [1pt]

b. Explain the logic behind the policy both in words [1pt] and using a graph [1pt]. Explain why you would want to correct the market equilibrium and what is the effect of your suggested policy on the equilibrium quantity and equilibrium price.

4. Imagine now that based on your recommendation, the government introduced a new regulation that limits child labour. In response, all firms except for two withdrew from the market. The groundwater pollution that results from the production of textiles remains unregulated. The remaining two firms simultaneously choose whether to pollute or change their production technology and stop polluting. If they both pollute, their profits are equal to P. If they both do not pollute, their profits are also equal to N. If one of them pollutes while the other one doesn’t, the firm that pollutes gets profits of M and the firm that doesn’t pollute gets profits of O.

a. What equilibrium concept that we have learned in class, can you use to solve what each of the firms is going to do? [0.5]

b. Write a normal form of this game [1pt]

c. What is the equilibrium outcome? [1pt]

d. Do firms have dominant strategies? List them and explain what a dominant strategy is. [1.5pt]

Business ethics is a study of the implication of our moral standards for business activities. Some school of thoughts have said that ethics has no place in business? Discuss.

Reviewing immunization statistics for kindergarden children to develop school health policies is an example of:

1. What were the major tenets of the Marginalist School? Explain and critically evaluate.
2. Discuss and critically evaluate the ‘laws of motion’ of capitalism as set forth by Karl Marx.

The patient was a passenger in a school bus that was involves in a traffic accident in your state. How would the medical insurance specialist compete item numbers 1-10C.

List the two ways that the Nationwide Congregate Feeding Requirement Waiver changed how school lunches were provided (i.e. what models were used?):

Explain Freud's theory of psychosexual development and Erikson's theory of psychosocial development as it relates to the middle school child. How do they differ from Piaget theory?