VinFast is Vietnam's first national car producer, established in 2017. This

company is also a member of Vingroup. Vingroup launched a program offering

vouchers to buy VinFast cars. Vingroup's home buyers will receive a voucher

worth up to 200 million VND to buy VinFast cars.

The consumer has preferences over VinFast cars and one composite good (a

composite good represents everything else). Suppose that VinFast cars and the

composite good are imperfect substitutes.

a. Discuss the effects of vouchers on consumer behaviours on Vinfast cars, using

an indifferent curve - budget line diagram to support your analysis.

b. Compare to the case where Vingroup does not give vouchers to home buyers

but give them an equivalent discount in cash.

c. This policy created a black market for VinFast voucher because many

homebuyers don't want to buy VinFast cars. Discuss the effects of this black

market on VinFast company and other stakeholders (Vinhomes buyers,

VinFast customers)