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{"ops":[{"insert":"The demand and supply functions for three (03) goods are given as follows:\nD"},{"attributes":{"script":"sub"},"insert":"x"},{"insert":"\u00a0= 100-3P"},{"attributes":{"script":"sub"},"insert":"x"},{"insert":"+P"},{"attributes":{"script":"sub"},"insert":"y"},{"insert":"+3P"},{"attributes":{"script":"sub"},"insert":"z"},{"insert":"\nD"},{"attributes":{"script":"sub"},"insert":"y"},{"insert":"\u00a0= 80+P"},{"attributes":{"script":"sub"},"insert":"x"},{"insert":"-2P"},{"attributes":{"script":"sub"},"insert":"y"},{"insert":"-P"},{"attributes":{"script":"sub"},"insert":"z"},{"insert":"\nD"},{"attributes":{"script":"sub"},"insert":"z"},{"insert":"\u00a0= 120+3P"},{"attributes":{"script":"sub"},"insert":"x"},{"insert":"-P"},{"attributes":{"script":"sub"},"insert":"y"},{"insert":"-4P"},{"attributes":{"script":"sub"},"insert":"z"},{"insert":"\nS"},{"attributes":{"script":"sub"},"insert":"x"},{"insert":"\u00a0= -10+P"},{"attributes":{"script":"sub"},"insert":"x"},{"insert":"\nS"},{"attributes":{"script":"sub"},"insert":"y"},{"insert":"\u00a0= -20+3P"},{"attributes":{"script":"sub"},"insert":"y"},{"insert":"\nS"},{"attributes":{"script":"sub"},"insert":"z"},{"insert":"\u00a0= -30+2P"},{"attributes":{"script":"sub"},"insert":"z"},{"insert":"\ndetermineThe equilibrium prices and quantities of all three goods are?"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"The government decides to:"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Impose a 25% Tax on X?"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"Impose a 5 Rs \/unit Tax on Y?"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"Give a 10% subsidy on good z?"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"Analyze the impact of each of these policies separately on equilibrium prices and quantities?"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Also calculate changes in consumer and producer surpluses, and amount of revenue earned by the government?"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Repeat this exercise when policies (a, b), (b, c) and (a, b, c) are jointly implemented. Which policy choice is best? Why?"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Provide theoretical justification (using diagrams) of all results obtained?"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\n"}]}
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