Principles of Economics unit 3 Essay

BAM 223 Principles of Economics
Writing Assignment for Unit Three
• Include your name, student number, course number, course title and unit number with your writing assignment.
• Begin each writing assignment by identifying the question number you are answering followed by the actual question itself (in bold type).
• Use a standard essay format for responses to all questions (i.e., an introduction, middle paragraphs and conclusion).
• Responses must be typed double-spaced, using a standard font (i.e. Times New Roman) and 12 point type size.
Word count is NOT one of the criteria that is used in assigning points to writing assignments. However, students who are successful in earning the maximum number of points tend to submit writing assignments that fall in the following ranges:
Undergraduate courses: 350 – 500 words or 1 – 2 pages. Graduate courses: 500 – 750 words or 2 – 3 pages. Doctoral courses: 750 – 1000 words or 4 – 5 pages.
Plagiarism
All work must be free of any form of plagiarism. Put written answers into your own words. Do not simply cut and paste your answers from the Internet and do not copy your answers from the textbook. Be sure to refer to the course syllabus for more details on plagiarism and proper citation styles.
Please answer ONE of the following:
1. Consider the market for wheat which is a perfectly competitive market. Is the market demand curve the same as the demand curve facing an individual producer? If not, explain how and why they are different?
Unit 3 Examination
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2. Explain why the monopolist has no supply curve?