Due Monday 3/26 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.
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 somewhat 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. PDF format is best but other formats are OK if you don't have software that can produce PDF.