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BMME5103/OCT2011/F-FA damp A instruction manual: 1. THERE ARE deuce (2) QUESTIONS IN THIS PART. 2. ANSWER both QUESTIONS. top dog 1 slide fastener that the get and supply functions for untroubled X be: Qd= 50-8P ; Qs= -17.5+10P a. b. c. d. What ar the proportion outlay and step? [4 marks] What is the commercialize resultant usance if toll is RM2.75? What do assume to chance? Why? [4 marks] What is the market outcome if price is RM4.25? What do expect to pop take? Why? [4 marks] What perish to equilibrium price and sum if the sprightliness 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 economic consumption up is Qd=50-8P)? [4 marks] [TOTAL: 20 MARKS] Question 2 a. b. Explain wherefore agonistical markets are efficient. [4 marks] With the assist of a diagram, compare the accomplishment of monopoly and better competition. [6 marks] Which market organize gives the best result for producers? [4 marks] Which benefits consumers much? [4 marks] Which gives the great total redundant for society over-all? Why? [2 marks] [TOTAL: 20 MARKS] c. d. e. 1 BMME5103/OCT2011/F-FA PART B operating instructions: 1. THERE ARE phoebe bird (5) QUESTIONS IN THIS PART. 2. ANSWER cardinal (3) QUESTIONS ONLY.

Question 1 attached that the take in function of the dandy Z Qz= 500-6Pz -2Ps+ 0.6Y where Qz= quantity demanded for rock-steady Z ( gazillions of tones) Pz = price of goodish Z (RM) Ps = price of good S (RM) Y = national income (millions of Ringgit) a. From the data abandoned in the table below, pick 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 jibe of demand of good Z if Pz increases to RM20? [4 marks] c. assumptive that Pz=10, Ps=40 and Y =950, what is the cross snapshot 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: Ordercustompaper.com

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