QUESTION 3 The U0 Economics Society is running a sausage sizzle at UQ. They sell sausages for $2 each and cans of soft drink for $1.50 each. Select the item from the list provided to make the following statements true. 5- V Selling two sausages and a drink together for $5 is an example of 1' First degree price discrimination 2. Second degree price discrimination 3. Third degree price discrimination 7- V The market will be more if the U0 Economics Society 4 Peak load pricing sells two sausages and a drink for $5, with producer surplus . . . 5. Pricing power decreasing and consumer surplus Increasing. 6. Arbitrage ' V The Economics Society's would likely be reduced if the 7. Inefcient UQ Law Society decided to compete in the sausage sizzle market 8_ Collusion with reduced pn'ces. 9_ Dominant 10. Dominated 11. Prisoner's dilemma 12. Efcient QUESTION 9 The Mount Emerald Wind Farm will be Queensland's largest wind farm once construction is completed. Nearby cattle farmers complain that the wind farm will adversely affect their cattle's wellbeing. Energex is the state electricity producer who will operate the wind farm. No Wind Farm Wind Farm Gains to Farmers ($) 200 146 Gains to Energex ($) 10 600 Total ($) 210 Coming to an agreement regarding the construction of the wind farm involves the use of very expensive lawyers. What is the maximum amount that could be spent on negotiations and still have the Wind Farm as the more beneficial option by $1? Assume the gains shown in the table (for both the Farmers and Energex) remain constant if these negotiations occur. Give your answer to the nearest whole number in dollars (with no decimal places, $ sign, spaces or commas)