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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.
Compute the current yield, the coupon rate, and the yield to maturity if the bond is puchased for $940.
What can you say about the level of the real interest rate if people instead are risk averse.
submit data findings that include economic factors within that area that may influence your decision, or factors that have prohibited an area to be chosen.
One important difference between an entrepreneurs also a manager is which the former gets into a market before demand increases, while the later gets into the market after the shift.
The newly established Bureau of Time Travel has been given authority to regulate time travel. If the bureau sets a price that allows Time Riders to earn a normal profit (that is, a fair return), illustrate what price will time travelers pay per tr..
Use the economic perpective to explin why someone who isnormally a ligh eater at a standard restaurant may become somewhat of a gullton at a buffet-style restaurant that chares a single price for all you can eat.
studies on the comparative work habits of the wealthy tell a different story. Research by professors Mark Aguiar. Explain which wealthy person has reservation wage.
Suppose the firm is operating in a high-wage country, where capital cost is $100 per unit per day and labor cost is $80 per worker per day. For every level of output, which technology is cheapest.
Illustrate what is Ricardian equivalence. Mention and explain three reasons why Ricardian equivalence might not correctly describe an economy.
The structural engineering design section within the engineering department of a regional electrical utility corporation has developed numerous standard designs
How does imposing rent controls affect the number of housing units available to low-income families? Illustrate your response using graphs.
In calculating the incremental cost of a particular project, how would you treat the possible future costs of a lawsuit that may occur as a result of this project, where the cost of the lawsuit might range from $10,000 to $500,000 with an associat..
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