Select a news articledated within the previous two months, and analyzes the issue using the economicconcepts and theory learned in this class. Develop a 3  page double-spaced paper that advocates aposition on this issue. Title page, appendices and bibliography are not to becounted in the page total for the narrative portion of the paper. Your papershould begin with a concise summary paragraph that (1) states the problem and(2) summarizes your position. The remainder of the paper should support andexplain your position. The paper should include at least one graph developed inour course and define all economic concepts used to build your argument.Possible graphs/concepts/theories to use in your paper include:· taxes, consumer orproducer surplus, and welfare· demand, supply, andequilibrium price of a particular product or products· total benefit and costcurves· production functionand isocost curves· long-run and short-runcosts· indifference curves,indifference curves and budget line· price elasticities ofsupply and demand, or income elasticity, on a particular product or products· perfect competitionand imperfect competition, such as monopoliesCitations should be inAPA format. Your paper should be double-spaced, with one-inch margins, andshould be in 12-point Times New Roman font. Include a minimum of eightreferences that are current (from within the past five years).