$20 Bonus + 25% OFF
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
Add File

Error goes here

ECON8069 Business Economics

tag 0 Download9 Pages / 2,019 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Questions:

1.Assume the government wishes to reduce alcohol consumption by considering a higher excise tax on alcohol products. Collect information on estimates for the price elasticity of demand for alcohol products. Based on these elasticity estimates illustrate using a demand/supply diagram(s) who bears the burden of the higher excise tax, consumers or producers.

As an alternative for reducing alcohol consumption assume the government is also considering the imposition of a minimum price on alcohol products. Using a demand/supply diagram illustrate the consequences of imposing a minimum price on alcohol for the consumption of alcohol products.

Provide comment on the relative merits of increasing excise taxes compared to imposing a minimum price on alcohol products for reducing alcohol consumption.

2.a) Assume that in long-run equilibrium the minimum point of the LRAC curve for a table manufacturer’s tables in $200 per table. Under conditions of monopolistic competition, will the long-run price of a table be above $200, equal to $200 or less than $200. Explain your answer.

b) What are of the characteristics of an oligopolistic market? Give three examples of industries with oligopolistic firms in Australia. Justify your examples by relating them to the characteristics of oligopolistic firms.

c) What are the characteristics of a monopolistically competitive market? Give three examples of industries with monopolistically competitive firms in Australia. Justify your examples by relating them to the characteristics of monopolistically competitive firms.

d) Assume that two firms make up a natural duopoly. What are the conditions which may make this occur? Sketch the market demand curve and cost curves that describe the situation in this market and that prevent other firms from entering.
Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Upload
Unique Document

Document
Under Evaluation

Get Money
into Your Wallet

Total 9 pages, 1 USD Per Page

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2021). Business Economics. Retrieved from https://myassignmenthelp.com/free-samples/econ8069-business-economics/problem-of-alcohol-abuse.html.

My Assignment Help (2021) Business Economics [Online]. Available from: https://myassignmenthelp.com/free-samples/econ8069-business-economics/problem-of-alcohol-abuse.html
[Accessed 16 September 2021].

My Assignment Help. 'Business Economics' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/econ8069-business-economics/problem-of-alcohol-abuse.html> accessed 16 September 2021.

My Assignment Help. Business Economics [Internet]. My Assignment Help. 2021 [cited 16 September 2021]. Available from: https://myassignmenthelp.com/free-samples/econ8069-business-economics/problem-of-alcohol-abuse.html.


Beat the cpm homework blues with best homework helper from Myassignmenthelp.com. Join with us to ace CPM homework and to succeed in your term papers. We provide a wide array of CPM Homework help and have individual teams focussing on every core connections. Get homework help with CC1, CPM homework help with CC2 and CPM homework help with CC3. Get the tips and guidance to master any kind of CPM problems. We have easy on pocket prices and multiple discounts to make the help we provide affordable and lucrative. Join us today and see for yourself a difference in your grades.

Latest Economics Samples

313695 Advanced Discipline Project 692

Download : 0 | Pages : 44

Answer: Introduction E learning is highly influencing the entire world because of the benefits, which the system is bringing to the educational system. It has enhanced the educational system. It took it to a different level, which has its governance under the hands of information and communication technology. It has helped in changing the style of learning by adding certain dimensions to the educational styles that had never been imagined bef...

Read More arrow

1393AFE Economics For Decision Making 1

Download : 0 | Pages : 7

Answers: 1. a. A PPC  (Rittenburg & Tregarthen) is bowed out due to increasing opportunity costs of producing a good. Consider X and Y. This means that to produce more of X we must reduce Y as our resources are fixed. We have to move from point A to B. To produce 1 more X, we have to pull out resources ( like labor ) from Y and put them into factories for X. We reduce Y as shown by red line as we move from A to B to get 1 more...

Read More arrow Tags: Australia Berkeley Management Production Management University of Queensland MBA 

BUS700 Economics

Download : 0 | Pages : 11

Answers: Introduction Australia is considered one of the wealthiest countries in the Asia Pacific region. For nearly twenty five years the country has experienced economic expansion. It has not experienced a recession within those periods despite the presence of the Great Recession in 2009. The country has however, experienced fiscal deficits which may have influenced the level of GDP, inflation and unemployment of the country. Globally, the ...

Read More arrow

HI5003 Economics For Business

Download : 0 | Pages : 5

Answer: Introduction Analysis of stable equilibrium is the focus of this paper. Stability is a state where deviation of that state brings back the state without intervention of any external force. The stability of an economy is implied by a stable state of income, price level, and employment condition and in its external sector. The autonomous operation of price mechanism maintains equilibrium in a single market. Both microeconomic and macroe...

Read More arrow

ECON 101 Economic Principles

Download : 0 | Pages : 3

Answers: 1.A business case essentially refers to the reasons behind the investing or initiating a certain project. The primary logic behind the creation of a business case is that the allocation of resources that are required in the particular project should be specified in a detailed basis. An ideal business case covers all the qualitative and quantitative features of a project that has been proposed. In simpler terms a business case is funda...

Read More arrow Tags: United States Tampa Management UNCC100 Our World: Community and Vulnerability University of Florida Humanities 
Next

5% Cashback

On APP - grab it while it lasts!

Download app now

*Offer eligible for first 3 orders ordered through app!

ribbon
callback request mobile
Have any Query?