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SECTION A Question 1 (a) equalizer expense = RM1.00 equipoise mensuration = 22kg (b) At the outlay of RM1.20, criterion take on = 20 kg mensuration supply = 24 kg superfluous supply = (24-20) kg = 4kg (c) At the price of RM0.60, native penury = 26 kg metre supply = 18 kg superfluous demand = (26-18) kg = 8kg (d) New equalizer price and bar Price(RM)| securities industry Demand(kg)| New Market Supply(kg)| 1.20| 20| 20| 1.00| 22| 18| 0.80| 24| 16| 0.60| 26| 18| counterbalance price = RM1.20 Equilibrium mensuration = 20 kg (e) Price(RM) Supply 1.

00 equilibrium prices Equilibrium totalDemand 18 sum of Market (kg) Question 2 (a) Equilibrium price = RM25 Equilibrium quantity = cd units (b) At the price of RM15, sum demand = 600 units Quantity supply = 200 units Excess demand = (600-200) units = 400 units (c) At the price of RM35, Quantity demand = 200 Quantity supply = 600 Excess supply = 400 units (d) i) quantity ii) Rises iii) Equilibrium Question 3 (a) Equilibrium price = RM30 Equilibrium quantity = 750 tones (b) contribute revenue TR = P x Q = RM30 x 750 = RM 22 ergocalciferol (c) Price(RM)| Quantity demand(tones)| New Quantity supplied(tones)| 20| k| one hundred fifty| 25| 900| 300| 30| 750| 450| 35| 600| 600| 40| 500| 750| 45| 350| 900| Equilibrium price = RM35 Equilibrium quantit y = 600 tones (d) Total revenue at RM! 35, TR = P x Q = RM35 x 600 = RM 21 000 The total revenue is cliff (e) Price(RM) S2 S1 35 New equilibrium 30 sign equilibrium Demand Quantity of tones 600 750 SECTION B 1. Economists...If you want to give a wax essay, order it on our website: OrderCustomPaper.com

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