1. What kind of market structure is involved for the sale of medicines and vitamins?

2. What can be said about barriers to entry in this market?

3. Might there be a change in market structure after the change in the law?

4. Explain the disadvantages of the abolition of resale price maintenance (RPM) for this market.

5. When RPM was abolished for book sales in 1995, the same concerns as those expressed in the above case were voiced. Since then, 10 per cent of bookshops have gone out of business. What conclusions might this help you to draw regarding the future of small pharmacies?

6. How does

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1. What mainly causes the price instability of agricultural goods?

2. How can producers attempt to overcome the problems that the cobweb theory illustrates?

3. What does the operation of the CAP and similar schemes tend to cause?

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1. What type of market do you consider the market for hops to be? (0.5 mark)

2. Use a supply and demand diagram to explain why the price of hops has increased in Australia, even quadrupling for some varieties, since. What would happen to Australian consumer and producer surplus with the increase in price? (Hint: Australia is an importer of hops with a very small share of the world market.) (1 mark)

3. What has been the short-run impact on the profits and output of Australian hop growers? Use a diagram to illustrate your answer. (1.5 marks)

4. What has been the long-run impact on the market for Australian hops? Use a diagram to illustrate your answer. (1.5 marks)

5. How efficient is the market for hops? Explain why. (0.5 mark)

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ECF1100 MICROECONOMICS SEMESTER 1 2018 Individual Assignment 2 Instructions: Due Date: Week 10 during your allocated tutorialWeighting/Value: 5%Word limit: Must not exceed 500 wordsPresentation requirements: Must be submitted typed, one-sided, and double spaced on white A4 paper. An electronic copy will not be accepted. You should retain a copy of the work submitted until results are finalised.Estimated return date: Marked assignments will be returned to students during tutorials in week 12. Criteria for marking: 1. Logical consistency 3.5%; 2. Presentation 1.5%. No additional citation is required to complete this assignment.Learning objectives assessed: This assessment task is designed to test your achievement of learning objectives (outcomes) 1 to 5. It is an individual assessment task. Submission details: Assignment should be submitted to your tutor during your allocated tutorial class. Submission to lecturers is NOT allowed. Electronic submission is NOT allowed Penalties for late lodgement: A maximum penalty of 1 mark per day (5% of the total mark) allocated to this assessment will be deducted for each day that it is late (or any fraction of a day). Assessment coversheet: Work submitted for assessment must be accompanied by a completed copy of the Faculty Cover Sheet (downloadable at Moodle) which has been signed by the student. No assignment will be accepted or marked if it is not accompanied by a signed Cover Sheet. Your name, I.D. number, the tutorial day/time, and the name of the tutor should be shown on the Cover Sheet Question: Please read the following article and write an essay to address the following questions: What type of market do you consider the market for hops to be? (0.5 mark) Use a supply and demand diagram to explain why the price of hops has increased in Australia, even quadrupling for some varieties, since. What would happen to Australian consumer and producer surplus with the increase in price? (Hint: Australia…

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1) What were your initial reactions to the Lovett article (“The new history of psychology: A review and critique”) and the first chapter of the textbook? Should psychologists write histories of psychology? What are the advantages and disadvantages of scholars within the discipline writing the discipline’s history?

2) Where would you place Danziger, in terms of whether his approach reflects “old” or “new” history? Why (support your conclusion)? What surprised or interested you from reading the interview with Danziger?

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1) When it comes to various safety issues, which approach is more suitable to apply, between Absolutism and Utilitarianism?
Notes for Question 1Absolutism – There are some basic rules of Morality which override considerations of consequences. Absolutism is actually arguing a completely different thing, which is there are some basic rules of morality or fundamental principles of ethics which override considerations of consequences.
Utilitarianism – is actually one form of consequentialism. It is under the category of consequentialism, which wassuggested by Jeremy Bentham we need to bringthe greatest happiness of the greatest number of people.That’s what is ethical. So he defines the right action in terms of maximizingthe total sum of happiness
2) Is saving a life one of those fundamental principles, fundamental rules of morality?
3) Is it fair to spend billions of dollars to make marginal improvements of safety, just to save a few number of people
4) Any thoughts on the current calculation of Value of Statistical Life (VSL)?
Notes for Question 3
The UK uses this term, Value of Preventing a Fatality. In the US, we use VSL, which is Value of a Statistical Life. So it’s basically the same thing. It’s a value of a life to be used to make a safety-related decision. In 2016 figure, the VPF in the UK is 1.83 million pounds. That is approximately $2.4 million US the Environmental Protection Agency, has the highest VSL, which is about $10 million. The VPF or VSL is not actually a value of a specific individual, but it’s calculated by this hypothetical situation that how much do we do to reduce the small risks for a large group of people considering the probability of the risk? So it’s actually a statistical number, the value of saving a statistical life.
5) How can we measure a value a human life more accurately?
6) Any thoughts on the issue of safety and organ transplantation/ donation?]
Notes for Question 4
Touch on• Concerns over Directed donation to Loved Ones

•Concerns over Directed Donation To a Stranger

• Problems of Self-Regulation</o:p>

• Ethical issues on Organ Allocation
7) What are your thoughts on organ allocation decisions and principles?

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