2. Table shows a relationship between price and quantity demanded and quantity supplied for goods Quantity Supplied (units) Price (RM) Quantity Demanded (units) 10 1 8. 12 16 20 4. 4. Based on the table above, Berdasarkan jadual di atas. a) Derive the demand equation / function (Qd) for those goods. Terbitkan persamaan/ fungsi permintaan barang tersebut. b) Derive the supply equation/ function (Qs) for those goods. Terbitkan persamaan/fungsi penawaran barang tersebut c) Calculate the market equilibrium for those goods using a mathematical approach. [CLO2: C3] Kira keseimbangan pasaran barang tersebut menggunakan kaedah matematik. d) Draw the demand and supply curves for those goods in one graph and show the market equilibrium, equilibrium price and equilibrium quantity for those goods. (CLO2: C3) Lukis keluk permintaan dan penawaran bagi barang tersebut dalam satu graf dan tunjukkan keseimbangan pasaran, harga dan kuantiti keseimbangan barang tersebut. e) What would happen if the government fixed the price of those goods at RM3 and by how much? Apakah yang akan berlaku jika kerajaan meletakkan harga barang pada RM3 dan berapa banyak?

2. Table shows a relationship between price and quantity demanded and quantity supplied for goods Quantity Supplied (units) Price (RM) Quantity Demanded (units) 10 1 8. 12 16 20 4. 4. Based on the table above, Berdasarkan jadual di atas. a) Derive the demand equation / function (Qd) for those goods. Terbitkan persamaan/ fungsi permintaan barang tersebut. b) Derive the supply equation/ function (Qs) for those goods. Terbitkan persamaan/fungsi penawaran barang tersebut c) Calculate the market equilibrium for those goods using a mathematical approach. [CLO2: C3] Kira keseimbangan pasaran barang tersebut menggunakan kaedah matematik. d) Draw the demand and supply curves for those goods in one graph and show the market equilibrium, equilibrium price and equilibrium quantity for those goods. (CLO2: C3) Lukis keluk permintaan dan penawaran bagi barang tersebut dalam satu graf dan tunjukkan keseimbangan pasaran, harga dan kuantiti keseimbangan barang tersebut. e) What would happen if the government fixed the price of those goods at RM3 and by how much? Apakah yang akan berlaku jika kerajaan meletakkan harga barang pada RM3 dan berapa banyak?

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 1.1P: (Calculating Price Elasticity of Demand) Suppose that 50 units of a good are demanded at a price of...

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