The Economics of Canadian Public Policy

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 Instructions:A title page MUST be attached with your assignment; it MUST include your name(s), student number(s), and your lecture section(s). Staple your assignment (Paper clip is not accepted).Your explanation in this assignment must be in full sentences (i.e., no point form and/or abbreviations); however, you can use headings or subtitles and can draw the graphs by hands (if you feel that it helps to support your argument). The format of your assignment isLength: 3 pages (excluding title page). The length includes tables, figures, diagrams, and appendices (Any materials exceed the 3 page limit WILL NOT be read and graded).Line spacing: 1.5 or doubleFont and font size: Times New Roman, font 12Margins: Top & bottom: 2.54cm or 1″Left & right: 2.54cm or 1″A penalty of 10% of the total available marks will be imposed if you fail to do any one of the followings: Have a title page Staple your assignment The format of your report does not satisfy the requirements mentioned above.Electronic submission of your assignment will NOT be accepted.Label your graph; otherwise, marks will be subtracted.No credit will be given if you do not show/explain your work.Your answer should be structured in a way such that those know little about economics will have no difficulty understanding your argument/answer.Total marks: 50 points. MGEC38 Assignment (Fall 2018)2This assignment is related to the article “A matter of concentration”, The Economist, October 27th, 2018, page 72Go to the following link for the article:https://www.economist.com/finance-and-economics/2018/10/25/economists-think-antitrust-policy-should-pay-more-attention-to-workers Question 1 (15 points)The article indicated that monopsony in the labour market could be problematic, explain the logic behind. Would there be any potential violation of the Competition Act? If so, which clauses of the Act might be violated? Explain.Question 2 (15 points)The article mentioned that regulators should take monopsony in the labour market more seriously, and three different approaches on how to handle monopsony power were being mentioned. From the regulator’s perspective, explain the advantages and drawbacks of using each of the three approaches mentioned in dealing with monopsony in the labour market.Question 3 (20 points)In light of recent economics research, the Competition Bureau is evaluating the possibility of including the effect of corporate tie-ups on the labour market in the Competition Act. The Bureau is seeking suggestions from the public, what kind of suggestions would you provide? Explain.Note: A good answer should look into factors, issues, and/or anti-competitive business practices that the Competition Bureau needs to take into consideration.