MPE781 - Melbourne Housing Market - Equilibrium Housing Prices - Profits Revenue and Welfare - Economics Assignment Help

Assignment Task:

MPE781 -  Melbourne Housing Market Economics Assignment Help

Learning Objectives:

This assignment is designed to encourage you to think about the applications of economic concepts learned in this unit to real-world scenarios.

Questions

Question 1:

In your own words, summarize the two articles

“2018 Real Estate Outlook: The Australian Perspective,” Deloittee, February 2018 (pages 1-10)

“House Price Falls May Be Ending, But Do Not Expect Another Boom,” by Michael Janda, ABC News, July 19, 2019.

In particular, what are the main messages of the articles?

Question 2:

Suppose that the Melbourne’s housing market is perfectly competitive (i.e., many real estate developers). The city government decides to introduce a buyer’s tax (specific tax) on housing purchases.

Using appropriate diagrams to answer:

(a). Examine the impacts of this buyer’s tax on the equilibrium housing prices, consumer surplus, producer surplus, and total surplus (or social welfare).

(b). Can the introduction in the buyer’s tax raise social welfare?

(c). Can the introduction in the buyer’s tax raise city government’s tax revenue?

Question 3:

Suppose that city government decides to develop a new housing area (i.e., the city government is like a monopolist).

Using appropriate diagrams to answer:

(a) If the city government’s objective is to maximize profits, what would be the housing price set in this new area?

(b) If the city government’s objective is to maximize revenue, what would be the housing price set in this new area?

(c) If the city government’s objective is to maximize welfare, what would be the housing price set in this new area?

Question 4:

Find at least three countries or economies that have housing policies or measures to stabilize the housing markets.

Provide your views or suggestions on the best measure to stabilize the housing markets that could be considered or used in Melbourne.

This MPE781: Economics Assignment has been solved by our Economics Experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.