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Read the attached article and write the following paper: The first part of the paper should be devoted to writing about how scarcity has affected what the article describes as your “bandwith”. Specifically write about how scarcity has affected your educational goals and what you will do to alleviate this. The second part of the paper should focus on the how the issues of scarcity brought up in the article affect the economic decision rule process undertaken by individuals and can cause people to make sub-optimal decisions. Specifically, I want you to give me an example of how a scarcity mindset can cause people to miscalculate marginal benefits, marginal costs, and opportunity costs to arrive at sub-optimal decisions. (For example, suppose a student who works 40 hours a week is suffering from a scarcity mindset and is currently overwhelmed mentally from all of their current responsibilities. This scarcity mindset causes them to discount the opportunity costs of working at their job—meaning they improperly discount the benefit they get from going to college—which causes them to drop out of college, when they otherwise wouldn’t have dropped out because they would have attributed a greater benefit to attending college if they weren’t suffering from a scarcity mindset. **PLEASE NOTE THAT YOU CAN’T USE THIS EXAMPLE IN THE PAPER**) As the instructor I should be able to determine that you have read the article and understand the content. The paper needs to be at least three pages, double spaced, and size 12 font. Cite your sources. The paper must be submitted typed in class on the due date.
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