Queens University MPA804 Fall 2019 Economics Assignment

This economics assignment solution analyzes market dynamics using supply and demand curves, focusing on various economic concepts. It explores market equilibrium, the impact of price floors and sales tax, and the concept of deadweight loss. The solution further examines the housing market, including rent control, elasticity of supply, and the effects of changes in supply and demand. Additionally, the assignment delves into the allocation of scarce resources, using the example of Wimbledon tickets to illustrate pricing strategies and consumer/producer surplus. The analysis incorporates relevant figures and references to support the arguments and findings, providing a comprehensive understanding of the topics discussed. The solution incorporates the use of multiple graphs and figures from the provided sources to illustrate the different concepts and economic models. The assignment covers a range of topics including the impact of government policies on markets, the behavior of consumers and producers, and the allocation of resources in different market structures.