Homework: Simulation Check Point
This simulation checkpoint homework directly supports your success on the course project. You will play the simulation games, create the image file of your simulation report, and discuss learned concepts and experiences in your submission.
Directions
For this homework, first play the simulation games Externalities Without Policy Interventions and Externalities With Policy Interventions in the MindTap environment. Then you will report your experiences playing those games. Your work in this homework will directly support your success on the course project.
In your submission, remember to include the images of your simulation reports. See the How to Submit a Simulation Report Image document for more information. Then, reflect on the decisions you made in the simulation and address the following government intervention options in your submission:
o Government Tools: Discuss tools available to the government to correct a market failure. Provide examples from the textbook.
o Supply and Demand Equilibrium: Describe how government intervention affects the supply and demand equilibrium. Refer to the simulation game to explain your responses.
o Consumer or Producer Surplus: Specify which government interventions cause a consumer or producer surplus. Explain how they impact consumer or produce surplus. Provide examples from the textbook.
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.