Sales Of Sugar Sweetened Beverages At Stores In Seattle Dropped - Economics Assignment Help

Assignment Task

1. Read the following article excerpt: 
Sweetened-beverage sales in Seattle dropped 30% after soda tax, new study says The Columbian 

Sales of sugar-sweetened beverages at stores in Seattle dropped about 30.5% in the months after the city adopted a tax on such beverages, says a new study that also looked at sales at stores in Portland, which has no such tax.
Sales in Portland declined only 10.5%, suggesting sales in Seattle dropped much more than they would have without a tax, according to the peer-reviewed study by University of Illinois at Chicago researchers.
The study’s results are the first to measure the impact of Seattle’s tax on beverage sales in the city, and they may bolster claims by supporters that the controversial policy is working as intended.
“From a public health perspective, this is good,” said Jay Krieger, a University of Washington professor who heads the nonprofit Healthy Food America. “People are purchasing less sugary drinks, and we know that sugary drinks are associated with heart disease, diabetes, high blood pressure and strokes.”
Seattle’s tax of 1.75 cents per fluid ounce, which took effect on Jan. 1, 2018, is charged to distributors of sugar-sweetened beverages. Distributors can pass the tax on to stores, and stores to consumers. Proponents said the tax would reduce soda sales and raise money for health and education programs. 
Your task 1:Explain, with the aid of a diagram, how a soda tax such as the one described above would impact consumers, producers and society more generally. 
Your task 2:Comment on whether or not you support such a tax and why.
2. Isaiah runs a bakery and has estimated his cost data in an excel spreadsheet. While looking at his spreadsheet on his phone, he accidently deleted some of the data with a few accidental swipes. 
His cost table is given below, with five spaces where he is missing information identified as A, B, C, D and E. All numbers are in dollars. 

The marginal cost figures have been calculated based on the discrete change from one row to the next. For example, 80 is the MC calculated going from Q=10 to Q=20. 
Your task 3:Find all the missing data. But very importantly, clearly present the maths you are using and the definitions you are using to relate the various cost curve concepts. 
Your task 4:(This task is not related to your Task 3)Sketch a general average total cost curve, an average variable cost, and a marginal cost curve all on the same diagram.
You do not need to include numbers or make it exactly to scale. 
Make sure however that the curves have their usual shape, and that your diagram shows the correct relationships between the curves. 
(Of course, this must be your own diagram so that we can assess whether you can draw it without error. If you copy-and-paste a diagram from the internet or from another student, you will not receive any marks.)

3. Read the following excerpt from a news article, then respond to the task below. 
Macadamia nuts double in price as growers struggle to keep up with demand 
If you are a fan of snacking on Australia's only commercially grown native nut — the macadamia — you may have noticed prices rising on supermarket shelves.
The Australian Macadamia Society said the price consumers were paying for the nut had doubled in the last 10 years, from $25 per kilogram to about $50 per kilogram.
Market Development Manager Lynne Ziehlke said part of the pricTASKe rise was due to growers getting paid more — and because of the rarity of the product. 
"In terms of tree nuts globally, macadamias [only make up] 1 to 2 per cent of global tree nut production, so there actually aren't a lot of macadamias around in the world, so that's one of the drivers," MsZiehlke said. 
Despite the price rise, consumer demand was also growing.
The industry body predicted the number of nuts that would be sold in Australia this year would beat last year's record of nearly 4,000 tons. 
MsZiehlke said its popularity had been driven by health food trends. 
"This rise in consumer interest in plant food is so palpable and consumers are eating more whole foods … a lot of this is driven by vegans, coeliacs, and consumers looking for dairy alternatives," she said. 
"You have seen a lot of niche products on the Australian market in the last year or so. There's no doubt in my mind that there is going to be very strong growth in that space as more product becomes available."
The harvest has just begun in one of Australia's key growing areas, Bundaberg, and the national forecast is looking good. 
This year's crop was expected to produce 53,500 tonnes in-shell, topping the record-setting 2018 harvest. 
Your task 5: After justifying the appropriateness of its use, use the model of perfect competition to support a discussion of the short run and long run prospects for firms producing macadamia nuts, in response to the changed demand conditions.

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