Page 8: Question 4 on Market Structure

The final page of the excerpt introduces a question about the tablet computer market. Students are provided with sales data for various manufacturers and are asked to calculate concentration ratios and identify the market structure.

Vocabulary: The 3-firm concentration ratio is the combined market share of the three largest firms in an industry.

Example: The table shows sales figures for tablet manufacturers like Apple, Samsung, and Asus for Q3 2012 and Q3 2013.

Highlight: The question tests students' ability to interpret market data and apply their knowledge of market structures to real-world scenarios.

Page 6: Question 3 on Taxation

Page 6 introduces a question about taxation on cigarettes in Hawaii. Students are presented with a supply and demand diagram showing the effect of a tax on cigarettes and are asked to identify the type of tax illustrated.

Example: The diagram shows how the tax shifts the supply curve upward, increasing the price from $5.10 to $7.39 per packet of cigarettes.

Vocabulary: A specific tax is a fixed amount charged per unit of a good or service.

Page 7: Continuation of Question 3 on Tax Incidence and Revenue

This page continues the question on cigarette taxation in Hawaii. Students are asked to calculate the total incidence of the tax on consumers and the total tax revenue generated.

Definition: Tax incidence refers to the distribution of the tax burden between consumers and producers.

Highlight: The calculations require students to use the information from the supply and demand diagram to determine the tax burden and revenue.