Due Monday 11/5 via Blackboard by 11:59 pm.
You may submit a revised draft of your memo that takes into account the comments you received on the first version. The revised version will be graded using the same rubric as before but with the two categories running from 0 to 4.5 points. Thus, the maximum possible score on the revised draft is 9. I'll grade the new version and give you the higher of your two scores.
Please note: you must use "track changes" mode to make clear how the memo has changed from the previous version. Please turn in the Word file with the changes tracked.
To clear up any confusion about what's given and what should be explained in the memo, the "Bureau of Statistics" provides information on initial conditions and how agents respond to changes in prices. All inferences about what that information implies for the specific policy at hand are yours. To be specific, you can cite the Bureau as the source of the information below; all other results are your own and should not be attributed to the Bureau.
Gas Tax: The initial price, the quantities consumed by an individual household of each type, and the slope of the individual demand curves: 150 gallons per dollar. It would also be OK, although much less clear to readers, to say that the Bureau provided demand curves for the two households.
Sugar Quota: The quota, the initial domestic and world prices, the initial domestic, foreign and total quantities, the initial number of workers in the industry, and the elasticities.
Please submit the memo via Blackboard. You should submit the document in Word format with changes tracked. If you use a program other than Word, use its change-tracking mode and turn in two PDFs: one with the revisions shown and one just showing the final version.