ECN 490 Saudi Electronic University Principles of Microeconomics Essay Regulations: This assignment is an individual assignment to be submitted in a word

ECN 490 Saudi Electronic University Principles of Microeconomics Essay Regulations:

This assignment is an individual assignment to be submitted in a word file.
Students are encouraged to use their own words.
Students must follow Saudi Electronic University academic writing standards and APA style guidelines.
Support your submission with course material concepts, principles, and theories from the textbook, along with at least two scholarly, peer-reviewed journal articles.
A mark of zero is awarded for any submission that includes copying from other resources without proper referencing it.
Write at least 4-5 pages in length, excluding the title page and required reference page, which is never a part of the minimum content requirements.
It is strongly encouraged that the student submits his/her assignment into the Safe Assignment Originality Check before sending it to your instructor for grading.
Plagiarism is NOT be tolerated. All assignments will be auto-checked for plagiarism. If you are found to have more than 15 % similarity with previous work, you will be graded zero in your assignment

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Q1. Firms in oligopoly must constantly think in terms of how other firms in the industry will react to whatever they do. Why do they have to do this? Why is it that firms in perfect competition and in monopoly don’t have to worry about how other firms will react? (5 Marks)

Q2. Governments are frequently tempted to introduce price ceilings in markets. Use an example to explain why this is not such a good idea, at least when markets are competitive. Give some ideas as to what the government could do instead in order to help consumers in these markets. (5 Marks)

Q3. If perfectly competitive firms are price takers, and monopolistic, monopolistic competitive, and oligopolistic firms are price searchers, then it follows that three times as many firms in the real world are price searchers than are price takers. Do you agree or disagree? Explain your answer. (5 Marks)

Q4. Critically analyze the following statement with views of your own:

“There is no substitute for an airline pilot: Someone has to fly the plane. Therefore, an increase in the wage of airline pilots will not change the number of pilots used by the airlines.”(5 Marks)

Note: For all your answers support your views/opinions with at least two to three scholarly references, and a word count of 400-500 words for each answer.

Learning Resource: Chapters 7, 8 & 10 of the Text Book O’Sullivan, A., Sheffrin, S. M., & Perez, S.J. (2014).Survey of Economics: Principles, Applications, and Tools. (6th).Upper Saddle River, NJ: Pearson Education. Print version: ISBN-10: 0-13-294885-0 or ISBN-13: 978-0-13-294885-2.Digital version: ISBN-13:978-0-13-13-9370-7.

End of Page Formatting Specifications:
• One-inch margins on all sides of the document.
• Double-space entire document, including the reference page.
• Use Times New Roman, black font color, and size 12 font for the entire document, including
the reference page.
• Include a separate title page with the following information. Centered in the top half of the page:
(a) paper title, (b) student name, (c) course number and name of course, (d) name of
institution,
(e) name of instructor, (f) date submitted. All major words are capitalized and not bold.
Insert the page numbers on the title page. Start with page 1.
• Use headings within the body of the document. Headings establish the hierarchy of the
sections
of a paper. All topics of equal importance have the same level of heading throughout the paper.
Use at least two subsection headings within any given section or use none.
• Indent all paragraphs five spaces to the right or 1/2 inch with no extra line space
between paragraphs.
• Spell out all phrases when first used in a document with the acronym in parenthesis after it.
Just
the acronym can be used in subsequent uses. Example: The Chief Executive Officer (CEO) for
Motorola stated…
• In-text citations should be used throughout body of document.
• Directly quoted material should be cited to page number or paragraph number of where
the quotation was found. Keep in mind that only 15-20% of your paper can be quoted (i.e.,
one quote per page).
• Block formatting is required for quotes of 40 words or more. For a block quote, indent
entire quote 5 space to the right or 1/2 inch, do not use quotation marks, and place the period
at
the end of the quote, not the citation.
• Use a page break (common feature in word processing software) to create a new page
for reference citations. The word “References” should be centered at the top, not bold, and
should not have any punctuation. References are double spaced and in hanging indent
format and in alphabetical order.
A number of templates and a sample papers are available in order for you to see examples of
APA formatting.
Plagiarism
Plagiarism is NOT be tolerated. All assignments will be auto-checked for plagiarism. If you are
found to have more than 15% similarity with previous work, you will be graded zero in your
assignment. Repeating such offense could result in your termination. If you have any doubt or
questions, please ask your instructor before submission.
So please be careful when writing your assignments. A tool on the blackboard is available to
check
the plagiarism. Always check before submission.
Regulations:
? This assignment is an individual assignment to be submitted in a word file.
? Students are encouraged to use their own words.
? Students must follow Saudi Electronic University academic writing standards and APA
style guidelines.
Page | 1
? Support your submission with course material concepts, principles, and theories from the
textbook, along with at least two scholarly, peer-reviewed journal articles.
? A mark of zero is awarded for any submission that includes copying from other resources
without proper referencing it.
? Write at least 4-5 pages in length, excluding the title page and required reference
page, which is never a part of the minimum content requirements.
? It is strongly encouraged that the student submits his/her assignment into the Safe
Assignment Originality Check before sending it to your instructor for grading.
? Plagiarism is NOT be tolerated. All assignments will be auto-checked for
plagiarism. If you are found to have more than 15 % similarity with previous work,
you will be graded zero in your assignment
Q1. Firms in oligopoly must constantly think in terms of how other firms in the industry will
react to whatever they do. Why do they have to do this? Why is it that firms in perfect
competition and in monopoly don’t have to worry about how other firms will react? (5 Marks)
Q2. Governments are frequently tempted to introduce price ceilings in markets. Use an example
to explain why this is not such a good idea, at least when markets are competitive. Give some
ideas as to what the government could do instead in order to help consumers in these markets. (5
Marks)
Q3. If perfectly competitive firms are price takers, and monopolistic, monopolistic competitive,
and oligopolistic firms are price searchers, then it follows that three times as many firms in the
real world are price searchers than are price takers. Do you agree or disagree? Explain your
answer. (5 Marks)
Q4. Critically analyze the following statement with views of your own:
“There is no substitute for an airline pilot: Someone has to fly the plane. Therefore, an increase
in the wage of airline pilots will not change the number of pilots used by the airlines.”(5 Marks)
Note: For all your answers support your views/opinions with at least two to three scholarly
references, and a word count of 400-500 words for each answer.
Learning Resource: Chapters 7, 8 & 10 of the Text Book O’Sullivan, A., Sheffrin, S. M., &
Perez, S.J. (2014).Survey of Economics: Principles, Applications, and Tools. (6th).Upper Saddle
River, NJ: Pearson Education. Print version: ISBN-10: 0-13-294885-0 or ISBN-13: 978-0-13294885-2.Digital version: ISBN-13:978-0-13-13-9370-7.
End of Page

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