Microeconomics – Supply and Demand

Assignment

In this Assignment, you will demonstrate your understanding of the Production Possibility model, marginal opportunity costs, and the differences in marginal opportunity costs. Additionally, you will demonstrate a clear understanding of the crucial concept of supply and demand, and the impact on the original group caused by a change in demand.

In this Assignment, you will be assessed on the following outcome:

BU224-1: Examine how various supply and demand scenarios affect the way prices and quantities are set by market interactions in perfectly competitive markets.

Please fill out the attached Unit 3 Assignment Template.

20180531135712hints_for_unit_3_assignment

20180531135711hints_for_unit_3_assignment_how_to_analyze_s_and_d_problems

20180531135527bu224_unit_3_assignment_template (1)

Solution Preview

Unit 3 Assignment: Supply and Demand
Name:
Course Number and Section: BU224–0X
Date:

General Instructions for all Assignments

1. Unless specified differently by your course instructor, save this assignment template to your computer with the following file naming format: Course number section number_Last_First_unit number

2. At the top of the template, insert the appropriate information: Your Name, Course Number and Section, and the Date

3. Insert your answers below, or in the appropriate space provided for in the question. Your answers should follow APA format with citations to your sources and, at the bottom of your last page, a list of references. Your answers should also be in Standard English with correct spelling, punctuation, grammar, and style (double spaced, in Times New Roman, 12–point, and black font).

(2,353 words)