Questions:
Q.1
During the 1990s , technological advance reduced the cost of computer chips. explain with the use supply and demand diagrams ,how the following markets are affected in terms of prices and quantities.
(1) computers
(2) computer software
(3) type writers
must add diagarm please
Q.2
the australian government administers two programs thataffect the market for cigarettes.first, media companies,andlabelling requirement are aimed at making public aware of the dangers of cigarette smoking. second,there is a tax on cigarettes.
(a) with use of a graph,explain how these two programs affect cigarette consumption,
(b) explain the combined effect of these two programs on the price of cigarettes.