Imposes Tax on Alcohol And Sellers or Buyers Tax - Economics Assignment Help

Assignment Task 

Suppose that the government decides Australians should reduce the consumption of alcohol and, therefore, imposes a tax on alcohol.

a) Should this tax be imposed on sellers or buyers? Explain using both words and a diagram.

b) Will this tax be more effective or less effective in reducing alcohol consumption if the demand for alcohol is relatively elastic? (Hint: Draw two figures, side by side, with the same supply curve and different demand curves.)

c) Who is going to bear more tax burden, buyers or sellers, if the demand for alcohol is relatively elastic? Explain with the help of a figure.

Final marks (out of 100) of 220 students in an economics unit follow a normal distribution with mean of 68 and standard deviation of 12. Present a frequency distribution for grades in that unit (that is, find the number of students with HD, D, C, P and N grade) where grades are defined as follows:

HD (High distinction): 80 or higher

D (Distinction): 70 to less than 80

C (Credit): 60 to less than 70

P (Pass): 50 to less than 60

N (Fail): Less than 50

Please show all the workout in answering this question and refer to the subsequent pages for a cumulative standardised normal distribution table.

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