Assignment details.

Imagine you are a researcher working on behalf of the Irish pharma industry. Based on demand/supply and elasticity analysis to predict outcomes from various events], prepare a short report on how each of the following might impact the price and quantity of pharma products in Ireland. [Treat each of these events separately]. You need to draw a diagram and give a brief explanation for each of these.

1. A per-unit tax is placed on all pharma companies to increase government revenue.
2. A global move away by consumers from prescription drugs as a health scare concerning the dangers of taking too many prescription drugs is published.
3. The government increase the minimum wage paid to all employees.
4. Improvements in technology are implemented that allows for greater efficiency in production methods in the pharma industry.
5. The government impose a price ceiling on all prescription drugs.