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Examine the impacts of rationing on a certain consumer good

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Reference no: EM13783623 , Length: word count:1000

Answer three of the four questions below in 1000 words or fewer using diagrams to illustrate your answers. Each question answered is worth 10% of your overall mark for the module.

a) Using diagrams explain why governments place higher tax rates on products such as petrol and cigarettes.

b) Examine the impacts of rationing on a certain consumer good.

c) Why is the concept of price elasticity of demand of interest to the owner of a travel agent?

d) Discuss the potential impacts a focus on ethical behavior by a firm might have on its profit margins.

Reference no: EM13783623

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