The UK govenment has decided that the high consumption of alcohol is now becoming a global threat to public health. For this reason, the government decides to impose a £2 per pint tax on alcohol sold. Use market equilibrium analysis to argue the effectiveness of this policy. Ensure to include one or more graphs to explain your reasoning.
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The UK govenment has decided that the high consumption of alcohol is now becoming a global threat to public health. For this reason, the government decides to impose a £2 per pint tax on alcohol sold. Use
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- The U.S. government administers two programs that affect the market for cigarettes. Media campaigns and labeling requirements are aimed at making the public aware of the health dangers of cigarettes. At the same time, the Department of Agriculture maintains price supports for tobacco. Under this program, the supported price is above the market equilibrium price and the government limits the amount of land that can be devoted to tobacco production. Are these two programs at odds with the goal of reducing cigarette consumption? As part of your answer, illustrate graphically the effects of both policies on the market for cigarettes.A state tax on portable electronic devices causes sales of a single model of a handheld calculator to decrease from 80 to 70 per week. The tax is assessed as a tax on sellers when they receive the units from suppliers. Drag the appropriate curves (including the Quantity curve) to show the effects on the market. To refer to the graphing tutorial for this question type, please click here. Price (S) 100 100 Quant 140 130 120 110 100 GO 80 80 70 00 00 40 30 20 10 80 Quantity (per week) What tax revenue will the state collect from sales of this one model of calculator through the new tax? The tax revenue is $ per week.In the health care market, Multiple Choice demand has increased relative to supply. supply has increased relative to demand. neither demand nor supply has changed significantly in the past two decades. the concepts of demand and supply are irrelevant.
- Victoria is the food basket for Australia. In 2017, Victoria witnessed a severe drought that is reported to be the worst in many years. Assume all factors constant meaning that there is no external influence in the market except the drought. Use the demand and supply model figure below to explain the impact of the drought on food supply to Northern Territory, a state that relies on food supplies from Victoria.A survey shows an increase in drug use by young people. In the ensuing debate, two hypotheses are proposed: Reduced police efforts have increased the availability of drugs on the street Cutbacks in education have decreased awareness of the dangers of drug addiction What could you use to distinguish between these two explanations? Whether the equilibrium quantity of drugs increased or decreased. If the quantity increased, then it was driven by cutbacks in education Whether the equilibrium quantity of drugs increased or decreased. If the quantity increased, then it was driven by reduced police efforts. Whether the equilibrium price of drugs increased or decreased. If the price increased, then it was driven by cutbacks in education Whether the equilibrium price of drugs increased or decreased. If the price increased, then it was driven by reduced police efforts The change in equilibrium price is ambiguousWhich of the following statements regarding price-based and quantity-based policies is correct? A) A tax on carbon is a quantity-based policy. B) An advantage of quantity-based policies is that the implementation can be rapid and complete. C) Quantity-based policies require more information to implement than price-based policies. D) Banning lead in petrol is a price-based policy.
- How can we use the Supply-Demand model to predict what is likely to happen to the price of alcohol in the future ?Question 1 According to a researcher at the FDA, vegan foods are “the way if the future”. More persons have become health conscious and are looking for foods which will fit this lifestyle. One such food is the Beyond Burger, a plant-based alternative to beef. Notably, despite strong demand for beef burgers, the supply chain has seen a host of disruptions that are preventing producers from getting their products to market. Beyond Burger’s sales in Canada totaled $3.0 billion at the end of 2021, accounting for 20% of all retail sales of burger patties (meat used in burgers), and 40% of the larger market for vegan foods. By the end of 2025, sales of Beyond Burgers are projected to make up 40% of all burger sales. i. Illustrate and explain the effect of the increased use of Beyond Burgers on (i) the burger patties market and (ii) the vegan market. ii. How the supply chain issues affected the beef burger market and describe how this would be corrected without the introduction of the vegan…Suppose that the government tends to maximize the tax revenue. How would the cannabis price drop affect the government tax revenue if cannabis was taxed by price? Did the government anticipate the cannabis price drop when designing the tax scheme. You may come up with an artificial numerical example to support your findings. are alcohol and cigarettes substitutes or complements of cannabis? How would the change in the price of cannabis possibly affect the market demand curve for alcohol/cigarettes?