Microeconomic

Submit your completed assignment to the folder. To submit your assignment click on the “Submit Assignment’ button at the bottom of the page. We recommend that you submit your work on Sunday of the week that you start the module.

HOMEWORK

Assignment Instructions

Answer all of the questions below in 2-3 paragraphs each.  Your final submission should be a minimum of two (2) double spaced typed pages.

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Be sure to save an electronic copy of your answers before submitting it to Ashworth College for grading.  Unless otherwise stated, you should answer in complete sentences, and be sure to use correct English, spelling, and grammar.  Sources must be cited in APA format.

Your response should be a minimum of two (2) double-spaced pages; refer to the Length and Formatting instructions for additional details.

1.What determines a household’s consumption possibilities?25 Points2.How would you answer someone who says that marginal utility theory is useless because utility cannot be observed?25 Points3.What is consumer surplus? How is consumer surplus calculated?25 Points4.What is a firm and what is the fundamental economic problem that all firms face?25 Points

Length/Formatting Instructions

Length2 typed pages – double spaced (minimum)Font12 point Calibri fontProgram/File TypeSubmit in WordAttachmentsShould be pasted into the Word document if possible.Referencing systemAPA referencing system is necessary in assignments, especially material copied from the Internet.

For examples of correct citations, visit the following links:

http://owl.english.purdue.edu/owl/resource/560/01/

C13 Microeconomics – Assignment Grading Rubric

CATEGORYExceeds ExpectationsMeets ExpectationsBelow ExpectationsDoes Not Meet ExpectationsContent – Quality and Completeness of Response40 points

Student answers all questions thoroughly giving well thought out responses.

32 points

Student answers most questions thoroughly giving well thought out responses.

28 points

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