Explain whether elasticity has changed. If so, how has price and income elasticity changed?

The Federal government has introduced JobKeeper payments to tackle the rising unemployment due to COVID-19. Loss of employment has meant a loss of income; this means we are experiencing a decrease in individual demand by households. With affordability now low, income elasticity of demand has been impacted. This paper requires you to use microeconomic analysis to assess how individual demand can be improved.

Question 1: 1. Is JobKeeper effective in retaining casual employment? How is it impacting individual demand? Do individuals have enough purchasing power to continue buying goods as normal? Explain whether elasticity has changed. If so, how has price and income elasticity changed? Provide evidence and use supply and demand diagrams to support your answer.

Question 2: 2. Is this change in demand having an impact on the supply side? Will moving some manufacturing back to Australia help? If yes, what strategies can the government adopt to help grow individual industries? Is this likely to influence consumer and producer welfare? Will there be a dead weight loss? Provide evidence and use supply and demand diagrams to support your answer.

find the cost of your paper

Calculate the PEDs for the Burbank–Oakland and Kansas City–St Louis routes.

Southwest Airlines is a major carrier based in Texas, and has made a strategy of cutting fares drastically on certain routes with large effects on air traffic in those markets…..

Please show two graphs that represent relationships between Y and X, one that has uncertainty or forecast error and one that does not

Please briefly respond to all of the following questions on each page. There are 3 pages of questions. This exam is a “take-home, open book” exam and posted no later….

analyze marks tax losses.

Mr Mark Lewis is employed on a luxury cruise liner which travels the Mediterranean Sea. After deductions his taxable income is AUD$150,000, (Hong Kong Dollar 790,000)   He owns a….