Complete worksheet Unit 3General Instructions for all Assignments1. 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_First_unit number 2. At the top of the template, insert the appropriate information: Your Name, Course Number and Section, and the Date3. Insert your answers below, or in the appropriate space provided for in the question. Your answers should follow APA format with citations to your sources and, at the bottomof 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, 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. Assignment In this Assignment, you will demonstrate your understanding of the Production Possibility model, marginal opportunity costs, and the differences in marginal opportunity costs. Additionally, you will demonstrate a clear understanding of the crucial concept of supply and demand, and the impact on the original group caused by a change in demand

Watch the video on farm subsidies at the following link: http://www.youtube.com/watch?v=P8G1HIlRppo Then read the following selections which are referenced below. These first three selections are included within the Points of View Reference Center database which the CCBC library subscribes to and can be accessed through the following URL that can be pasted into a browser window. http://0-web.ebscohost.com.library.ccbcmd.edu/pov/... “Farm Subsidies: An Overview” “Point: Farm Subsidies Are no Longer Necessary” “Counterpoint: Farm Subsidies Are Needed for American Farmers” The following selections are available on the Internet. “Our Crazy Farm Subsidies Explained” at http://grist.org/food/our-crazy-farm-subsidies-explained/ “Betting the Farm” at http://www.bloomberg.com/graphics/2015-farm-bill/ “Milking Taxpayers” at http://www.economist.com/news/united-states/21643191-crop-prices-fall-farmers-grow-subsidies-instead-milking-taxpayers “In Signing Farm Bill, Obama Extols Rural Growth” at http://www.nytimes.com/2014/02/08/us/politics/farm-bill.html Respond to the questions on the next page with proper application of economic theory in a minimum of three solid paragraphs per question, and your answers to all of the questions in total should include a minimum of 1,500 words. To check your word count, select the text for each answer you provide. Microsoft Word will give a word count for the selected text. Be sure to write your answers in your own words and to cite all sources used fully in APA or MLA style, including the textbook and the sources listed above as well as any other credible sources you choose to use to support your answers. The CCBC Library has a citation guide for APA style on their website at the following link: http://library.ccbcmd.edu/screens/web/apa_fall2015.pdfFriday, June 30, 2017. Late papers will not be accepted. QuestionsThe most common example of a market with perfect competition is agriculture. How could farm subsidies distort a model of perfect competition? Explain.American corn farmers receive billions of dollars in taxpayer subsidies each year. These subsidies allow them to sell their grain at prices below what it costs to produce it, particularly for export markets. How do U.S. corn subsidies hurt Mexican farmers?Summarize the arguments both in favor of and against eliminating farm subsidies. After your evaluation, where do you stand on this issue and why? Criteria Weight Score Includes a minimum of three solid paragraphs for each of the three questions, and the total word count for the answers includes a minimum of 1,500 words. 10—The paper meets this criterion. 7—Each answer includes a minimum of 3 solid paragraphs, and the total word count is at least 1,300 words. 5—Some answers may include less than 3 solid paragraphs, and the total word count is at least 1,200 words. 3—Some answers may include less than 3 solid paragraphs, and the total word count is at least 1,000 words. 0— All answers include less than 3 solid paragraphs, and the total word count is less than 1,000 words. 10% Answers the three questions with proper application of economic theory 10—missing no data; all questions posed by the assignment are answered with a high level of quality and completeness 7—most key data is present or most of the questions were answered, but missing minor points 5—missing roughly half of key data or questions 3—missing most key data or answered questions with a low level of quality and/or completeness 0 —missing all key data or did not directly answer the questions posed by the assignment 70% Provides sufficient, documented support for all relevant statements 10--All facts and information that are not common knowledge are properly cited in APA or MLA format. 7--All facts and information that are not common knowledge are cited, but there are specific problems with citation style and format. 5--Most obvious facts are cited; other data is provided without support. 3--Some obvious facts are cited; other data is provided without support. 0--Statements are completely unsupported. 10% Paper is written in a coherent, logical style using standards of proper written English. Paper is typed using a word processing program, proofread carefully, and virtually free of spelling, grammatical, and punctuation errors. 10—The paper meets this criterion. 7—The paper is typed, well written, and contains no more than 10 spelling, grammatical, and/or punctuation errors. 5—The paper is typed, has some issues with writing style and coherence, and contains no more than 10 spelling, grammatical, and/or punctuation errors. 3—The paper is typed, has multiple issues with writing style and coherence, and contains no more than 15 spelling, grammatical, and/or punctuation errors. 0— The paper is typed, has multiple issues with writing style and coherence, and contains more than 15 spelling, grammatical, and/or punctuation errors. 10%