please see attachedAttached. Please let me know if you have any questions or need revisions.College of Administrative and Financial SciencesAssignment-3Deadline: 28/11/2020 @ 23:59Course Name: MicroeconomicsStudent’s Name:Course Code: ECON101Student’s ID Number:Semester: ICRN:Academic Year: 1441/1442 HFor Instructor’s Use onlyInstructor’s Name:Students’ Grade:/ 5Level of Marks: High/Middle/LowInstructions – PLEASE READ THEM CAREFULLY•The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.•Assignments submitted through email will not be accepted.•Students are advised to make their work clear and well presented, marks may be reduced forpoor presentation. This includes filling your information on the cover page.•Students must mention question number clearly in their answer.•Late submission will NOT be accepted.•Avoid plagiarism, the work should be in your own words, copying from students or otherresources without proper referencing will result in ZERO marks. No exceptions.•All answered must be typed using Times New Roman (size 12, double-spaced) font. Nopictures containing text will be accepted and will be considered plagiarism).•Submissions without this cover page will NOT be accepted.Assignment 3Explain the effects of low price-guarantee on the price.Low price guarantee happens when a someone selling a product they give a price for a product that isequal to the product or can be equal to any lower price of that product in the market.Reduction of competition: Some economists and many people in business believe that low priceguarantee policies lower down the incentives of a store to lower pricing. If any retailers or shopowners real…
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