Question 1. Political corruption is epidemic in Russia today. What effect does this have on the Russian economy? Compare and contrast bureaus and business firms. 
Your response should be at least 75 All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. 

Question 2. Suppose seven people are trying to decide whether to get a pizza with pepperoni, a pizza with sausage and pepperoni, or a pizza with everything on it. Four people want everything, one wants pepperoni and sausage, and two want pepperoni only. Assume that each person prefers a pizza closer to his or her first choice to a pizza that is unlike the first choice. What is the preference of the median voter? Which pizza will be selected if the majority rules? 

Your response should be at least 75 words in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. 


Question 3. What is market power and what are its effects? 

Your response should be at least 75 words in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. 



Question 4. What dilemma faces regulators trying to regulate natural monopolies? What hampered enforcement of the Sherman Act? 

Your response should be at least 75 words in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. 


Question 5. How does social regulation differ from economic regulation? 


Your response should be at least 75 words in length.. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. 

The textbook is called: McEachern, W. A. (2012). ECON Micro 3 (3rd ed.). Mason, OH: South-Western.