Ask Business Economics Expert

problem: describe 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.

problem: The Australian government administers two programs that affect the market for cigarettes. First, media campaigns and labeling 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, 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.” Discuss.

Assignment Formatting Requirements:

The final submission should show your understanding and application of the relevant concepts.

a) Use Times New Roman, size 12 for text. Number the pages if applicable.

b) Have a Cover Page including:

•    Subject code and title
•    Name of assignment
•    Tutorial group
•    Tutor’s name
•    Student names and ID numbers
•    Due date

c) Reference List if applicable - Please use the Harvard System, refer tohttp://lgdata.s3-website-us-east-1.amazonaws.com/docs/1909/377548/Main_exs_090812.pdf

d) Obtain a Standard Assessment Declaration Form from the Assignment Information section of the unit Web CThttp://ce6.vu.edu.au/

Complete and sign the Student Assessment Declaration form.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M9106

Have any Question? 


Related Questions in Business Economics

True and false question and need to explain itthe theory of

True and False Question and need to explain it The theory of comparative advantage states that trade arises due to different amounts of labor and capital in a country. What arises trade in neo-classical model and o-h mod ...

What causes the ppf to shift outward i think that resources

What causes the PPF to shift outward? I think that resources have to be used but i'm not sure.

In what kind of economy is a central planning board or

In what kind of economy is a central planning board or commission typically used to answer the basic economic questions?

According to the same national collegiate athletic

According to the same National Collegiate Athletic Association data, the means and standard deviations of eligibility and retention rates (based on a 1,000-point scale) for the 2013-2014 academic year are presented, alon ...

Define the international fisher effect and explain the fact

Define the international Fisher Effect and explain the fact of how it occurs. Is there any deviation from it?

American heart association is about to conduct an

American Heart Association is about to conduct an anti-smoking campaign and wants to know the fraction of Americans over 33 who smoke. Step 1 of 2: Suppose a sample of 1179 Americans over 33 is drawn. Of these people, 27 ...

Autonomous consumptionnbsp 660marginal propensity to

Autonomous consumption  = 660 Marginal propensity to consume  = 0.8 Autonomous taxation  = 200 Income tax rate =  0.2 Planned investment  = 500 Government spending  = 500 Autonomous net exports  = 300 NX  = 0.04 Calculat ...

The demand fornbspbedspreadsisnbsppnbspnbsp150-4qdthe

The demand for bedspreadsis  P ? = 150-4 QD . The supply of bedspreads is  P ? = 125+5 QS . What is the equilibrium price of a bedspread and what is the equilibrium quantity of bedspreads?? The equilibrium price is ?$()a ...

What does the term the ten principles of economics and how

What does the term the Ten Principles of Economics and how it's applied to the consumer buying trends?

A coffee machine dispenses coffee into 8-ounce cups it can

A coffee machine dispenses coffee into 8-ounce cups. It can be regulated so that it discharges an average of μ ounces per cup. Suppose the amount of coffee dispensed is normally distributed with standard deviation .2 oun ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As