This microeconomics assignment delves into several key concepts. Question 1 explores the Production Possibility Frontier (PPF), its characteristics, and how shifts in demand impact it. Question 2 analyzes demand and revenue schedules, calculating elasticity and illustrating consumer and producer surplus, and deadweight loss through graphical representations. Part I analyzes the relationship between price, quantity demanded, and revenue, determining demand elasticity. Part II examines market equilibrium, consumer and producer surplus, and deadweight loss. Question 3 then focuses on the impact of taxation, illustrating tax revenue, and the burden of indirect taxes using supply and demand analysis, and suggests government interventions to address the issue of teenage binge drinking and alcohol related harm. The assignment provides a detailed analysis of the economic principles. The assignment also includes relevant figures and tables to support the analysis.