Professional Documents
Culture Documents
Econs Assignment Slides
Econs Assignment Slides
Econs Assignment Slides
Question 1(a)
Public Goods
Private Goods
Question 1(a)
Public Goods
Non-rivalry
- Beautiful scenic view
- National Defense
- Public safety
Non-Excludability
Air
Public Parks
Road
Knowledge
Private Goods
Rivalry
- Food
- Clothes
- Limited edition cards,
books, shirt
Excludability
Concerts
Museums
Talks
Car parts
Question 1(b)
Can
Can of
Sardin
Sardin
400
395
387
375
360
340
310
270
220
140
10
Question 1(c)
Opportunity Cost = Income Forgone = Working as
a office clerk
Year
2014
1,300
15,600
2015
1,500
18,000
2016
2,000
24,000
2017
2,200
26,400
Question 1(d)
4 Years (RM)
Tuition Fees
66,500
Insurance (4 years)
280
1,870
Total
68,650
Question 1(d)
Years of
experience
Salary per
month (RM)
Salary per
year (RM)
2,500
30,000
2,875
34,500
3,737.50
44,850
Project
Manager
3,737.50
44,850
5,232.50
62,790
Position
Civil
Engineering
Question 1(d)
Employee deductions
Gross
Salary
(per
month)
EPF
Incom
SOCSO e Tax
Total
deductio
ns (per
month)
2,500
275
12.25
287.25
2,875
317
14.25
331.25
3,737.50
412
14.75
24.85
451.6
3,737.50
412
14.75
24.85
451.6
5,232.50
583
14.75
181.85
779.6
Net
Salary
(RM)
2,212.7
5
2,543.7
5
3,285.9
0
3,285.9
0
4,452.9
0
Net
Annual
Salary
(RM)
26,553
30,525
39,430.8
0
39,430.8
0
53,434.8
0
TOPIC 2
2(A)
DEFINE PRICE ELASTICITY OF DEMAND AND PRICE
ELASTICITY OF SUPPLY.
2(B)
STATE THE FORMULAS FOR
CALCULATING THE PRICE
ELASTICITY OF DEMAND AND PRICE
ELASTICITY OF SUPPLY.
2(C)
USING NUMERICAL EXAMPLES,
SHOW HOW YOU CALCULATE THE
PRICE ELASTICITY OF DEMAND
AND PRICE ELASTICITY OF SUPPLY.
2(D)
SHOW BY WAY GRAPHS;
-PRICE ELASTICITY OF DEMAND EQUALS
1, GREATER THAN 1 AND LESS THAN 1.
-PRICE ELASTICITY OF SUPPLY EQUALS 1,
GREATER THAN 1 AND LESS THAN 1.