32. Give two reasons why the price of overseas holidays could rise? In each case identify
whether these are reasons affecting demand, supply or both.
(15 marks)
33. The Soft Drinks Industry Levy took effect in the UK in 2018. Explain, using a diagram,
how this tax works and discuss its impact on consumer behaviour.
(15 marks)
34. On a diagram, show the long-run equilibrium for both firm and industry under perfect
competition. Now assume that the demand for the product rises. Show the new short term
effects and discuss what might happen after the market responds.
(15 marks)
35. Give two examples of price discrimination. In what ways do both the consumers and
supplier's benefit?
(15 marks)