+1-415-670-9189
info@expertsmind.com
Supply and demand diagrams
Course:- Business Economics
Reference No.:- EM13446




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Business Economics

Question 1 : Explain each of the following using supply and demand diagrams.

(a) When a cyclone hits Queensland, the price of bananas rises in supermarkets throughout the country.

(b) When school holidays end, the price of interstate air travel in Australia falls.    

(c) When a war breaks out in the Middle East, the price of Petrol rises and the price a used Ford falcon falls. 

Question 2 : The Australian government administers two programs that affect the market for cigarettes.  First, media campaigns and labelling requirements aimed at making public aware of the dangers of cigarette smoking.  Second, there is a tax on cigarettes.

(a) With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

(b) "A tax on cigarettes is a good way of raising tax revenue for the government."  Discuss.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Business Economics) Materials
What would be the effective rate of protection on bicycles in China if China places a 50 percent tariff on bicycles, which have a world price of $200, and no tariff on bike co
You are very impressed by the first interviewee completing both phases of BK books interviewing process, and she has indicated that her reservation salary is 110,000. Should
According to the text privatization is "arranging for private companies to on certain jobs and functions formerly done by government." (Burger, 15) Many of these private compa
Discuss the economics justifications for a merger. In particular, how might these reasons apply to companies now merging in the following industries oil automobiles telecommun
Suppose David buys cheese (X) and fruit (Y) with his income of $48 per week. Suppose the price of cheese has recently risen from $4 to $6 per pounds, while the price of fruit
Given a firm’s revenue and cost functions: Construct a profit function, determine the level of Q that maximizes profits, and prove that it is a maximum by invoking the second-
He wishes to accumulate $30,000 in a savings account in 5 years. If he wishes to make a single deposit today and the bank pays 0.2% compounded annually on deposits of this siz
Let P be a "message" = 7 to be encrypted using RSA' use p= 11 and q = 13 to calculate your modlus, determine the private and public keys. Use the public and private keys in