Question
1.The New South Wales government has decided to provide all residents $100 vouchers designed to stimulate the pandemic-battered hospitality and entertainment sector.Hena's Popping Popcorn shop
1.The New South Wales government has decided to provide all residents $100 vouchers designed to stimulate the pandemic-battered hospitality and entertainment sector.Hena's Popping Popcorn shop and Panoramic Cinema Hall are located next to each other in a Westfield Shopping mall in Northwest of Sydney City. Suppose that the voucher is not redeemable for Hena's Popcorn shop.Nonetheless, these two vendors always claim their popcorns and entertainment hall are different than other providers.
a)Using diagram, explain how this affects the equilibrium price and quantity of Panoramic Cinema Hall in the short run. (2 marks)
b)Show and explain how this affects the equilibrium price and quantity of Hena's Popcorn shop both in the short and long run.(3 marks)
notes - Please include reference and citation (the authors name and year of published )
and remember to related the answer with the question scenario
thank you
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