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Microeconomic
Microeconomic Questions
a) Assume a perfectly competitive firm, Farm Apple Sdn Bhd spent at a fixed rate of MYR 800 for wages, and each of their apple (output) sells for MYR 20, calculate the marginal product of labour, value of the marginal product of labour, and marginal p
Assume Thailand is an exporter for world petroleum market. Using demand and supply graph (draw a grap), draw the petroleum market in Thailand before and after international trade, assuming the world price for petroleum is above the Thailand petroleum mark
Assume there is a reduction in the price of materials needed to produce computers hardware such as graphic cards. Use a supply-and-demand diagram (draw a graph) to show what happens to price, quantity, consumer surplus, producer surplus, and total surplus
1. Assuming Farm Apple Sdn Bhd hire the labour to pick apple. Using the information below, answer the following questions: Quantity of Labour Units of Output 0 0 1 16 2 21 3 25 4 31 5 36 6 40 a) Assume a perfectly competit
1. A company is planning to monopolize their streaming services called HooFlix in Malaysia. The company has invested MYR 3 million into their streaming services. The company also face a marginal cost of MYR 10 per each streaming service they offer. Th
1. Toys Create Corp., produce puzzles and sell to consumers. A worker costs MYR 100 a day, and the firm has fixed costs of MYR 200. Workers Output Marginal Product Total Cost Average Total Cost Marginal Cost 0 0 --- --- --- 1 20
]Malaysia is an exporter for world petroleum market. Using demand and supply graph, draw(draw a graph) and explain the petroleum market in Malaysia before and after international trade, assuming the world price for petroleum is above the Malaysia petroleu
Illustrate (draw a graph) consumer and producer surplus using demand and supply graph and explain how total surplus (consumer surplus plus producer surplus) can be maximised at the equilibrium level.
1. Suppose that the government implement a price ceiling on the cigarette market, construct a demand and supply market for cigarette and explain how non-binding and/or binding price ceiling result in a reduction in market efficiency. (10marks)
According to the graph, what are the revenues of a profit-maximizing monopolist? a. 1020 b. 900 c. 750 d. None of the above is correct
From the importing country’s point of view, a tariff is better than a quota because a. a tariff has a smaller effect on imports than does a quota. b. a tariff has a larger effect on imports than does a quota. c. the tariff generates tax
Refer to figure above, if price goes from equilibrium to P1, producer surplus will change to area: a. E - C. b. C + E c. E - F d. B - F
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