must answer both questionin 400 wordand introduction and conculsion in 100 words and must hardward...

Question

must answer both questionin 400 wordand introduction and conculsion in 100 words and must hardward style refernces. total 500 words.

Q.1
During the 1990s , technological advance reduced the cost of computer chips. explain with the use supply and demand diagrams ,how the following markets are affected in terms of prices and quantities.
(1) computers
(2) computer software
(3) type writers
must add diagarm please

Q.2
the australian government administers two programs thataffect the market for cigarettes.first, media companies,andlabelling requirement are aimed at making public aware of the dangers of cigarette smoking. second,there is a tax on cigarettes.
(a) with use of a graph,explain how these two programs affect cigarette consumption,
(b) explain the combined effect of these two programs on the price of cigarettes.

Note: please don't copy paste from internet.

thanks

Robert · Accepted Answer

(a) Computers (3 marks)
Computer chips are an input into computers. A cost reduction in chips will translate into lower computer costs as input costs are lower. This will cause supply curve to shift downwards. As result the price of computers is lower and quantity sold is higher. we move from E1 to E2
P
SS1
                    SS2
E1
E2
DD
Quantity of computers
 
(b) Computer software (3 marks)As the quantity consumed of computers rises, the demand for software will rise. software and computers are complementary goods. Demand curve will shift upwards.

must answer both questionin 400 wordand introduction and conculsion in 100 words and must hardward style refernces. total 500 words. Q.1 During the 1990s , technological advance reduced the cost of...

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