Unit 3 Assignment: Supply and Demand
Course Number and Section:
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 name_first name_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 current 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, in 12-point, and black font). Respond to questions in a thorough manner, providing specific examples of concepts, topics, definitions, and other elements asked for in the questions.
4. Upload the completed assignment to the appropriate Dropbox.
5. Any questions about the assignment, or format questions, should be directed to your course instructor.
Before attempting to complete the Unit 3 Assignment, it is strongly recommended that you complete the TWO Learning Activities associated with this assignment. The links to the learning activities are found within the course by selecting “Contentâ€Â, then on “Unit 3â€Â, then on “Assignmentâ€Â, and then on “Unit 3 Assignment.†The links appear within the paragraph entitled “Learning Activity.â€Â
e. With the Brazilian coffee growers selling to both the Canadians and the Brazilians, what will be the quantity consumed by Brazilian consumers? (6 points)
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Directions for Submitting your Assignment
Be sure to respond to all the questions and submit your paper to the Unit 3 Assignment Dropbox by Tuesday, midnight ET of this unit.
Grading Rubric for Unit 3 Assignment: Supply and Demand
Points Earned
Overall Writing:
Used correct file name in uploading assignment document.
Demonstrated concerted effort to utilize material from the textbook, Learning Activities, and/or seminars to answer questions.
Correctly formatted paper in 6th edition. Includes in-text citations and listed at least one reference.
Used standard English with few or no grammatical errors.
Individual Questions:
72
1.a. Correctly determined if a specific quantity could be produced, clearly explained the reasons why the answer was correct.
1.b. Correctly described where the point would lie relative to the PPF curve.
1.c. Correctly determined the Opportunity Cost from 200 to 300.
1.d. Correctly determined the Opportunity Cost from 625 to 825.
1.e. Correctly explained why the answers to b and c are not the same.
1.f. Correctly explained what the answer to 1.e. implies about the shape of the PPF curve.
2.a. Correctly computed the initial Absolute Advantage – bagels.
2.b. Correctly computed the initial Absolute Advantage – calzones.
2.c. Correctly computed the initial Comparative Advantage – calzones.
2.d. Correctly computed the initial Comparative Advantage – bagels.
2.e. Correctly computed the new Absolute Advantage – bagels.
2.f. Correctly computed the new Absolute Advantage – calzones.
2.g. Correctly computed the new Comparative Advantage – bagels.
2.h. Correctly computed the new Comparative Advantage – calzones.
3.a Correctly computed the equilibrium quantity and price.
3.b. Correctly computed the new demand schedule.
3.c. Correctly computed the new market price.
3.d. Correctly determined the price will Brazilians pay.
3.e. Correctly determined the quantity will Brazilians buy.
Less points deducted for late submission
Total Points
80
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