damp A INSTRUCTIONS: 1. THERE ARE deuce (2) QUESTIONS IN THIS PART. 2. ANSWER BOTH QUESTIONS.
Question 1 cypher that the get and supply functions for comfortably X be: Qd= 50-8P ; Qs= -17.5+10P a. b. c. d. What are the equilibrium outlay and quantity? [4 marks] What is the market resultant role if price is RM2.75? What do expect to chance? Why? [4 marks] What is the market outcome if price is RM4.25? What do expect to pop off? Why? [4 marks] What happen to equilibrium price and quantity if the look at function becomes Qd=59-8P? [4 marks] e. What happen to equilibrium price and quantity if the supply function becomes Qs=-40 + 10P (the use up is Qd=50-8P)? [4 marks] [TOTAL: 20 MARKS]
Question 2 a. b. Explain why agonistical markets are efficient. [4 marks] With the aid of a diagram, compare the performance of monopoly and better competition. [6 marks] Which market structure gives the best result for producers? [4 marks] Which benefits consumers more? [4 marks] Which gives the great total surplus for society over-all? Why? [2 marks] [TOTAL: 20 MARKS]
c. d. e.
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BMME5103/OCT2011/F-FA
PART B INSTRUCTIONS: 1. THERE ARE FIVE (5) QUESTIONS IN THIS PART. 2. ANSWER THREE (3) QUESTIONS ONLY.
Question 1 Given that the demand function of the good Z Qz= 500-6Pz -2Ps+ 0.6Y where Qz= quantity demanded for good Z (millions of tones) Pz = price of good Z (RM) Ps = price of good S (RM) Y = national income (millions of Ringgit) a. From the data given in the table below, fill in the blanks and draw the demand curvature when Ps=RM40 and Y is RM950 million Price good Z (RM) 10 20 30 40 50 [4 marks] b. anticipate that Pz=10, Ps=40 and Y =950, what is the price snapshot of demand of good Z if Pz increases to RM20? [4 marks] c. Assuming that Pz=10, Ps=40 and Y =950, what is the cross elasticity between good Z and S if Ps increases to RM70? [4 marks] d. Assuming that Pz=10, Ps=40 and Y=950, what is the income elasticity when Y increases to RM1100 million? [4...If you want to get a broad essay, order it on our website: Orderessay
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