Suppose that the government instituted a per-unit tax on the output of a monopoly firm. A. graph this situation? B. On the same graph show what would happen to the market equilibrium after implementation of such a tax? C. On the same graph how would you show which economic actor pays most of the tax? You are to not only draw the graph but also explain the answer

1.2 Consider the following customers of a Japanese sushi restaurant. Their total benefit (TB) measured in terms of the maximum amount of money they are willing to pay for n dishes are given below. Dish of sushi 0 1 2 3 4 5 6 7 8 Customer A 0 60 90 Total Benefit ($) 115 125 120 110 95 70 Customer B 0 30 50 60 55 50 40 25 5 As postulated in economics, customers are maximizing their economic surpluses. One can decide not to dine in this Japanese restaurant and can get zero economic surplus. (a) The sushi restaurant is now charging customers $20 per dish. How many dishes do these two customers choose to buy under this pricing arrangement respectively? Use both total and marginal approach to solve the problem. Show your steps. (b) Now, the sushi restaurant changes its pricing policy. Now they charge each customer $100 and let them order as many as they want. Will the customers continue to dine in this restaurant? If so, how many dishes would they choose to buy? Again, solve this using both…

Question 7 120 MC 90 50 Demand MR 30 The graph above depicts the market for pastries. Based on the graph, how much is consumer surplus under monopoly? 1200 900 750 450

Suppose Biwei is the only consumer in the apple market, why is his marginal use value equal to the apple price? Calculate his consumer surplus (net gain from consumption) and fill in the table. How many apples he would like to buy per week?

Illustrate using an appropriate diagram [see sample below] where the Crocs online store in  Australia [https://www.crocsaustralia.com.au/] sets the average price of a pair of Classic Clog to maximise profit. And within that diagram, explain ‘Gains from trade’ and ‘Deadweight Loss’.  In your diagram, assume at the profit-maximising point, the average price of the Classic  Clog is $60, and the unit cost is $35.   Determine whether the PED is more elastic or inelastic  Use hypothetical values (rough guesses) relying on intuition for quantities sold (Q) per  month Once your diagram is complete (and properly labelled), explain ‘Gains from trade’ and  ‘Deadweight Loss’ associated with your diagram.