Pick one of the two for your write-up. Read the article and then analyze it within the framework of material we have covered in class and from the text.
1) Summarize the article. What is the main economic question posed and/or answered?
2) Relate the article to the current textbook readings. Cite the textbook sections and page numbers to which you are referring.
3) Address the following questions:
How well does the described industry fit with the assumptions of perfect competition?
Do the people/firms in the described industries make positive economic profits in the long run? Why or why not?
This assignment will be graded out of 25 points using the following rubric. (As a guideline for appropriate writing, please refer to the written communication rubric.)
5 points for using the template that has been provided.
5 points for sufficient consideration of the prompts. As a general guideline, the write-up should be a page and a half in length (approx 600-700 words) with one to two paragraphs of summary, one to two paragraphs relating the material to the readings, and a paragraph addressing each posed query.
5 points for mechanics, grammar, and readability.
3 points for content of summary.
3 points for content of relating to the readings.
4 points for appropriately answering the questions.
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