When supporting your argument address concerns against your position outlined in the article.
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Part 1 – The Paper (10 points)
Write a 250-word paper addressing the following points:According to the article, what problem is the soda tax attempting to address?
Does a federal soda tax currently exist?
Outline a few arguments the article describes against a soda tax.
Outline a few arguments the article describes supporting a soda tax.
If soda consumption changes a lot with a small tax, is soda elastic or inelastic?
Do policymakers hope soda is elastic or inelastic in order to achieve the goal stated in question 1?
Support an argument for or against a soda tax. When supporting your argument address concerns against your position outlined in the article.
Part 2 – The Graph (20 points)
Create a graph showing what will happen to the Supply & Demand curves for soda in the US if a soda tax is put in place.
The data used to create this graph isn’t important and you will hide the values on your x and y axes. What is most important is where the equilibrium is before and after the shift!Feel free to use the “fake” data provided in our previous graphing homework.
In your paper, explain which curve the soda tax will shift and why. Also, explain:
What happens to the quantity output?
What happens to the price of soda?
Notes on creating your graphs:
They have to be made in excel.
The graphs need to have:
a line for supply
a line for demand
in the settings, make sure to “hide” the fake data after creating your graphs.
a label on each curve
a label telling what is on your x and y axis
a title for what each graph shows
and additional lines for any shifts you make.
Refer to the supply and demand graphs within the book as a guide. I’ll expect your graph to be pretty much identical to those in the book but with the price and the quantity of soda on the axes.
To help you get started, take a look at this video explaining the basics of creating graphs using excel. I’d only add that I will not want numbers on the y or x axes since this is a generalized model. Just “hide” the fake data after creating your graphs.
