Question 1describe each of the subsequent using supply and

Assignment Help Microeconomics
Reference no: EM13347522

Question 1:

Describe each of the subsequent 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 needs 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, describe 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." Explain.

Reference no: EM13347522

Questions Cloud

Write a latter to mom thanking for adopting and caring you : write a latter to mom thanking for adopting and caring you and giving you a lovely
Examine statistical data consisting of records of car : examine statistical data consisting of records of car accidents on victorian roads and freeways in 2012. the victorian
1 the roe ratio tells us how much investors are willing to : 1. the roe ratio tells us how much investors are willing to pay for a dollar of accounting book value. in general
Question 1a busy landscaping supplies company sells wood : question 1a busy landscaping supplies company sells wood chips for garden mulch. the mulch is sold by the cubic metre
Question 1describe each of the subsequent using supply and : question 1describe each of the subsequent using supply and demand diagrams.a when a cyclone hits queensland the price
You are tasked with identifying and discussing what makes a : you are tasked with identifying and discussing what makes a crusty pizza company restaurant successful and conversely
Write a journal on buyer behaviorjournal should inhibits : write a journal on buyer behavior.journal should inhibits following points1. applied social psychology and consumer
Question 1you are considering investing in facial : question 1you are considering investing in facial laboratories. suppose facial is currently undergoing expansion and is
All the data for this problem come from a conservative : all the data for this problem come from a conservative dialect of vegraveneto a romance language spoken in northern

Reviews

Write a Review

Microeconomics Questions & Answers

  Why is an m-form more likely than a u-form

Why is an M-form more likely than a U-form to be an efficient way of organizing a university and to organize the schools within it?

  Write out the payoff matrix for game

In the model of a dominant firm, assume that the fringe supply curve is given by Q= -1 + 0.2P, where P is market price and Q is output. Demand is given by Q = 11-P.

  Aggregate demand for goods and services

The Aggregate Demand for goods and services in an economy must at every moment equal the value of Real Gross Domestic Product because both are defined to be the sum of (C+I+G+X-IM).

  What is total variable cost

What is total variable cost when 100 units of output are produced and what is average fixed cost when 150 units of output are produced?

  Economic scenario of us

The U.S. is in recession and, at last report, GDP was shrinking at a rate of 1% per year. The unemployment rate is rising and now stands at 7%. In recent months, the rate of inflation has been holding steady and is increasing at an annual rate ..

  General utility maximization

First ignore the implicit constraints: 8 i; xi  0 and give the FOCs. Then take them into account and give the Kuhn-Tucker Conditions. Simplify your expressions as far as you can.

  Rule for optimal input usage

According to the rule for optimal input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the company.

  What managers can do to prepare for the possible change

From the e-Activity, determine the environmental variable most likely to affect the short-run production over the next 12 months. Determine what managers can do to prepare for the possible change in short-run production.

  Determining breakeven output-total sales revenue

Find out the breakeven output and total sales revenues. Estimate the output that would generate total profit of 60,000 and total sales revenue at that output level.

  Differentiate what is fair and what is ethical

Reflect upon the ethical requirements imposed on businesses by the law and society. Sarbanes Oxley was enacted in response to widespread ethics violations. Do publicly traded companies owe ethical duties to their investors beyond making a profit

  Why would an inverted yield curve be problem for economy

When the interest rate on short-term government securities is higher than the interest rate on long-term government securities, we refer to the yield curve (i.e. the relationship between the return on different bonds) as being inverted

  Description of your empirical analysis

What literature you are reviewing and how it contributes to your research question. You might want to consider areas such as additional readings on theory, policy relevance, debates and existing findings.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd