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Explain the efficiency consequences

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Reference no: EM133065404

As one of the local economy stimulus package, all of you are well aware that the New South Wales (NSW) government introduced a Dine and Discover NSW scheme to support local businesses. The package is worth $100 out of which $50 can be spent on food such as dining in restaurants or purchasing takeaways. Explain the efficiency consequences of such food voucher schemes under two scenarios below using well-labeled diagrams.

A) Friday orders a takeaway that is exactly worth $50 (please include a diagram)

B) Crusoe orders a takeaway that is worth $70 so eventually ends up paying $20 from his own pocket. (please include a diagram)

Reference no: EM133065404

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