ECO10250: Demand and Supply Curves of Solar Power - Economics Assignment Help

Assignment Task :

Assessment 1 
This first assignment consists of five questions based on topics covered in the early part of this unit.
The purpose of this assignment is to give you the opportunity to demonstrate the skills you have acquired in this unit.
The assignment due date provided here applies to the Australian study period. This may be varied for students studying elsewhere, so please confirm dates with your local tutor. Students must submit Assignment 1 online via Turnitin, the online submission facility on the MySCU website for this unit. You must attach an electronic cover sheet (available in MySCU in the Assessment Tasks and Submission icon) as the first page of your assignment otherwise your assignment will NOT be marked. You should keep a copy of all submitted materials. It is important that you that you keep your receipt from Turnitin (it is sent to you once you submit your assignment) and make sure your score is acceptable. A value of over 50 per cent (not including repeating the questions) should raise some concerns for you. You will be able to check your Turnitin score more than once but be aware the first time you submit your assignment you will receive a score very quickly however your subsequent results may take up to 24 hours to get to you 

Question 1
a. In February 2020 it was reported that Australia’s solar power capacity could almost double in a year.
i) Use demand and supply curves of solar power to show this doubling of capacity. 
ii) Use demand and supply curves of solar power to show what is likely to happen to demand for solar power over time in response to the capacity increases. 
iii) Use demand and supply curves of solar power and coal-fired power separately to show what is likely to happen to demand and supply of solar power if the government introduces a tax on coal- fired power. 

b. In an attempt to support the solar-powered motor vehicle industry the government decides to set a minimum price for solar-powered vehicles. Do you think this is a good idea? Explain your decision with the aid of a diagram.

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