1. The government wants to promote healthier lifestyles for Filipino citizens by imposing a sin tax on tobacco. Graph the effects of the sin tax and state the effects on quantity and price. 2. Illustrate the differences between a monopoly and perfect competition in ease of entry, product differentiation, and market power. 3. Using demand and supply analysis explain how the Philippine peso can depreciate relative to the US dollar. 4. Explain why the price of a hectare of land in rural Samar is lower than the price of 1,000 square meters of land in Bonifacio Global City? 5. The price of coffee beans has increased over the past year. Furthermore, the price of honey has also increased. What is the effect on the market for tea? Assume that the effect of the change in price of coffee is greater than the change in the price of honey