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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
Using the information above, calculate the total revenue, marginal revenue, total cost, and profit. As a monopoly firm, at what quantity should the firm charge to maximise its profit? Based on your answer in (a), construct the gra
a. Using the information in the table above, calculate average total revenue, marginal cost, marginal revenue, and total profit. Determine the level of output that the firm should produce to maximise their profit. b. Using the answer in (a), cons
Using the information above, calculate the marginal product, total cost, average total cost, and marginal cost. Identify the output level at minimum average total cost for Toys Create Corp. b. Construct the marginal-cost and average-total-cost cu
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
Illustrate (draw a graph) consumer and producer surplus using demand and supply graph and explain (3) how total surplus (consumer surplus plus producer surplus) can be maximised at the equilibrium level.
Suppose that the government implement a price ceiling on the cigarette market, construct a demand and supply market for cigarette. Explain (5) how non-binding and/or binding price ceiling result in a reduction in market efficiency.
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. Information in the table below shows the total cost and total revenue of Product A: QUANTITY 0 1 2 3 4 5 6 7 Total Cost (MYR) 7 11 16 22 29 37 46 56 Total Revenue (MYR) 0 10 20 30 40 50 60 70 a. Using the in
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
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 and explan what happens to price, quantity, consumer surplus, producer surplus, and t
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
Explain purchasing power parity and arbitrage?
Determine how would the following transactions affect Malaysia exports, or imports and net exports. a. Desmond, an Indonesian, spend his vacation in Malaysia and buys hand-made souvenirs for his friends. b. You go to a music store to b
Recent commitment of most automotive brands on electrical vehicle market has led to an increase in global demand for semiconductor chips. Assuming Japan is the only global supplier for semiconductor and due to their increasing inflation, their central ba
Explain why short-run aggregate supply curve is upward sloping while long-run aggregate supply curve is vertical.
Determine whether each of the following events shifts the short-run aggregate-supply curve, the aggregate demand curve, or both. For each event that shift a curve, illustrate, and explain the effect using AD-AS. a. Due to Covid-19, many househol
Explain how expansionary fiscal policy (fiscal stimulus) sometimes crowd out investment.
Determine how each of the following monetary or fiscal policy would shift the aggregate demand curve. Illustrate and explain the following effect. a. As the economy is in the state of recession, the government decided to increase government spen
Explain the tradeoff between inflation and unemployment in the short-run and the long-run.
Give five explanations for the trade-off between unemployment and inflation in the short and long run.
So let's say that this European Central Bank, the European Central Bank expects the natural unemployment rate to be 6 percent, and the actual unemployment rate is 5.5 percent. A.) Use the Phillips curve illustration to determine what happens to inflation
Refer to figure above. Along SRPC2, expected inflation equals a. 6%. b. 5%. c. 4%. d. cannot be determined from the figure. 2. Refer to figure above. The natural rate of unemployment occurs at a. U0. b. U1. c.
If the long-run Phillips curve shifts to the right, for any given rate of money growth and inflation the economy will have a. higher unemployment and higher output. b. higher unemployment and lower output. c. lower unemployment and highe
According to the long-run Phillips curve, if the central bank increases the growth rate of the money supply, a. inflation and unemployment both rise. b. inflation rises and unemployment falls. c. only employment rises. d. only infla
Phillips found a negative relation between, a. output and unemployment. b. output and employment. c. inflation and output. d. inflation and unemployment.
1. Which of the following properly describes the interest-rate effect? a. A higher price level leads to higher money demand, higher money demand leads to higher interest rates, and a higher interest rate increases the quantity of goods and serv
1. Which list contains only things that would make people want to hold more money? a. Interest rates decrease, the price level increases. b. Interest rates decrease, the price level decreases. c. Interest rates increase, the price le
1. When the central bank decreases the money supply, we expect interest rates a. and stock prices to rise. b. and stock prices to fall. c. to rise and stock prices to fall. d. to fall and stock prices to rise.
1. If wages adjust fully to price increases in the long run, fiscal policy will a. have no affect on the price level. b. have no affect on output. c. have no affect on either output or the price level. d. affect both output and
Refer to figure above, An expansionary fiscal policy would be most effective in raising output with little or no inflation when the aggregate demand curve shifts from
When the economy is producing at full capacity, the aggregate supply curve becomes
The level of aggregate output demanded rises when the price level falls, because the resulting decrease in the interest rate will lead to a. higher investment spending and higher consumption spending. b. lower investment spending and higher co
1. Other things equal, a decrease in the price level ________ the equilibrium interest rate and ________ equilibrium output. a. increases; increases b. increases; decreases c. decreases; increases d. decreases; decreases
1. The quantity of output supplied at different price levels is represented by the a. production function. b. aggregate demand curve. c. aggregate supply curve. d. aggregate expenditures curve.
1. Business cycles a. are explained mostly by fluctuations in corporate profits. b. no longer are very important due to government policy. c. are fluctuations in real GDP and related variables over time. d. All of the above are
Floating exchange rates are determined by
If a nation's interest rates are relatively low compared to those of other countries, then the exchange value of its currency will tend to (C2)
The fall in value of the British pound relative to the Japanese yen is a(n) (C1)
A U.S. firm opens a factory that produces camping equipment in Albania, by itself (C2)
illustrate (draw a graph)and explain what would happen to the production possibilities frontier if there were a technological breakthrough in producing tubas.
Assume a natural disaster has destroyed some factories that produce candies and the quantity of candies supplied decreases by 20 million packs a week at each price.
Calculate the opportunity cost of point A move to point B.
explain what would happen to the production possibilities frontier if there were a technological breakthrough
production efficiency in production possibilities frontier.
Explain the production efficiency in production possibilities frontier.
List five (5) examples of opportunity cost when you choose to complete your assignment.
examples of scarcity that you face. (microeconomic)
production possibilities frontier
absolute advantage & comparative advantage
production possibilities frontier
Suppose you consume three pounds of beef and five pounds of pork per month
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