Assignment Detail:- ECO500 Economics for Managers - Polytechnic Institute Australia
Part A - Macroeconomics
Answer two -2- of the three -3- questions below-
If you attempt more than two -2- only the first two -2- attempts, even if not completed, will be marked-
Question 1 - Explain how the CPI is constructed and discuss any weaknesses with this measurement technique- -Approximately 300-400 words-
Question 2 - Answer all four -4- parts of this question
a- Describe the four types of unemployment, providing examples of each- -Approximately 80 words-b- Which kind of unemployment is unavoidable, and why is that so???? -Approximately 40 words-c- What is the natural rate of unemployment, and what types of unemployment constitute the natural rate of unemployment???? -Approximately 60 words-d- Explain how the types of unemployment were affected and may have played out during the grip of the Covid-19 pandemic for the Australian economy- -Approximately 60 - 70 words-
Question 3 - Answer all three -3- parts of this questions
Free trade would allow Australian producers to access China's large and growing demand for imported food, including cereals, beef, and dairy products such as milk-
a- Draw a graph showing the supply and demand for milk in China, along with the world price and price level of China's milk market with a tariff-imposition- Assume that China can import as much as it wants at the world price of milk- Make sure you indicate on your diagram the quantity of milk imported-b- Explain in detail what would happen if China removed the tariff on imported milk- Discuss any changes in the net benefits derived from this decision- Make reference to your labelled diagram- -Approximately 120 - 140 words-c- Discuss who benefits and who loses when China removes a tariff on milk- -Approximately 60 words-
Part B - Microeconomics
Answer two -2- of the three -3- questions below-
If you attempt more than two -2- only the first two -2- attempts, even if not completed, will be marked-
Q1 - Answer all three -3- parts of this question
IF ONLINE - A DIAGRAM IS SUPPLIED
a- Suppose that large numbers of people in Vietnam switch to Starbucks coffee- Referring to Figure 1, identify the market structure and explain the effects for Highlands Coffee from Starbucks' entry to the Vietnamese coffee market- How might the existing competitor, Highlands Coffee, respond to this change with regards to demand, supply and other effects???? -Approximately 100 words-
b- Explain what Highlands Coffee might choose to do in response to this- -Approximately 60 words-
c- Explain in detail what strategies Highlands Coffee could employ to compete with Starbucks, to change customer sensitivity response- -Approximately 50 words-
Q2 - Describe and explain determinants that affect market demand, as played out in the blue sweater sequence of "The Devil Wears Prada-" DO NOT SIMPLY WRITE A LIST- -Approximately 300-400 words-
Q3 - Answer all two -2- parts of this questions
a- High barriers to entry would prevent new firms from joining a monopoly market- Discuss four factors that act as barriers to entry- -Approximately 200 - 250 words-
b- Using examples, how may a monopoly firm use barriers to entry to its advantage???? -Approximately 100-150 words-
Attachment:- Economics for Managers-rar
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