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MPE781 Economics For Managers

tag 0 Download 13 Pages / 3,037 Words tag 07-07-2021



(a) What are the ‘hidden fees’ discussed in the article above? Why are they considered hidden? Give one other example of hidden fees based on another type of good or service (not in the article).

(b) Give one example of an actual government policy/law that has attempted to counteract problems associated with hidden fees and comment, using your knowledge of economic theory, on how successful you think the policy is (not in the article).


“These hidden fees, the report argues, can weaken the overall economy by making itless efficient.” Do hidden fees actually make the economy less efficient? If so, how? When answering, ensure you first clearly define the concept of efficiency.


(a) In the previous question, it is implied that hidden fees cause a lack of competition. However, it is also the case that hidden fees are the result of a lack of competition. Discuss why this might be the case.

(b) Given this, what policies can governments pursue to reduce the practise of hidden fees without directly prohibiting the use of hidden fees?


If hidden fees are profitable to sellers, then why don’t we observe hidden fees in all markets (e.g. the market for oranges)? Clearly goods and services with certain characteristics are more likely to be able to utilise and benefit from hidden fees.

Identify these characteristics and give appropriate rationale for each of them.


(a) The two goods discussed in the article are exports for the USA. How do hidden fees affect the importing (tourist/visitor) countries? Discuss specifically in terms of goods that are substitutes to international tourism, and the resultant changes to the market equilibriums and also surplus distributions of these goods.

(b) Consider the market for US dollars. The USA supplies US dollars and the rest of the world demands it. The interaction of demand and supply curves determine the exchange rate of US dollars vis-à-vis other countries. Given this, illustrate (using a fully-labelled graph) how the use of hidden fees in these export goods markets may potentially affect the exchange of the US dollars vis-à-vis another country that is importing such goods.

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