lOMoARcPSD|26307036

Midterm Microeconomics II

Mikroekonomi ii (University of Malaysia Terengganu)

Studocu is not sponsored or endorsed by any college or university

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)
 lOMoARcPSD|26307036

UNIVERSITI MALAYSIA TERENGGANU

MID SEMESTER EXAMINATION

PEPERIKSAAN PERTENGAHAN SEMESTER

SEMESTER I 2022/2023 SESSION (DEGREE PROGRAMME)

SEMESTER I SESI 2022/2023 (SARJANA MUDA)

COURSE : MICROECONOMICS II
KURSUS MIKROEKONOMI II

COURSE CODE : ECO3123

KOD KURSUS
DATE : 20 DECEMBER 2022
TARIKH
VENUE : AUDITORIUM MAHYUDIN, FEP
TEMPAT
TIME : 3.10PM – 4.40PM
MASA

MATRIC NO. : ______________________________________________

NO. MATRIK
PROGRAMME : ______________________________________________
NAMA PROGRAM
SEAT NO. : ______________________________________________
NO. MEJA

INSTRUCTIONS TO CANDIDATES
ARAHAN KEPADA CALON

i. Answer all questions.

Sila jawab semua soalan.
ii. All answers must be written in the answer booklet provided.
Semua jawapan hendaklah ditulis dalam buku jawapan yang disediakan.
DO NOT OPEN THE QUESTION PAPER UNTIL INSTRUCTED
JANGAN BUKA KERTAS SOALAN INI SEHINGGA DIBERITAHU

THIS QUESTION PAPER CONSISTS OF THIRTEEN (13) PRINTED PAGES

KERTAS SOALAN INI MENGANDUNGI TIGA BELAS (13) MUKA SURAT BERCETAK

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)

 lOMoARcPSD|26307036

ANSWER ALL QUESTIONS

JAWAB SEMUA SOALAN

1. Economic theory assumes that the goal of firms is to maximize

Teori ekonomi mengandaikan bahawa matlamat firma adalah untuk memaksimumkan

a. sales
jualan
b. total revenue
jumlah hasil
c. profit
keuntungan
d. price
harga

2. Which of the following describes the market structure of perfect competition?

Antara berikut, yang manakah menerangkan struktur pasaran persaingan sempurna?

a. many firms, low barriers to entry, some control over price, and product differentiation
banyak firma, halangan masuk yang rendah, beberapa kawalan ke atas harga, dan
pembezaan produk
b. many firms, low barriers to entry, no control over price, and identical products with no
differentiation
banyak firma, halangan masuk yang rendah, tiada kawalan ke atas harga, dan produk
yang sama tanpa pembezaan
c. a few firms producing similar products, significant barriers to entry, and some control
over price
beberapa firma yang mengeluarkan produk yang serupa, halangan yang ketara untuk
kemasukan, dan beberapa kawalan ke atas harga
d. many firms, low barriers to entry, heterogenous product.
banyak firma, halangan masuk yang rendah, produk heterogen.

3. The demand curve facing a perfectly competitive firm is

Keluk permintaan yang dihadapi oleh firma persaingan sempurna ialah

a. perfectly elastic
anjal sempurna
b. perfectly inelastic
tidak anjal sempurna
c. unit elastic
anjal uniti
d. downward-sloping
condong ke bawah

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)

 lOMoARcPSD|26307036

4. If a firm shuts down in the short run and produces no output, its total cost is
Jika firma ditutup dalam jangka pendek dan tidak menghasilkan keluaran, jumlah kosnya
ialah

a. zero
sifar
b. equal to variable cost
sama dengan kos berubah
c. equal to fixed cost
sama dengan kos tetap
d. explicit costs only
kos eksplisit sahaja

5. The figure above describes the cost and revenue structure of a perfectly competitive coffee
farm, on a per-unit basis. What is the profit maximizing number of sacks when the price
of coffee in the market is $380 dollars?
Rajah di atas menerangkan struktur kos dan hasil ladang kopi berdaya saing sempurna,
pada asas per unit. Berapakah bilangan guni yang memaksimumkan keuntungan apabila
harga kopi di pasaran ialah $380 dolar?

a. 3 sacks
3 guni
b. 14 sacks
14 guni
c. 22 sacks
22 guni
d. 6 sacks
6 guni

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)

 lOMoARcPSD|26307036

Answer questions 6 to 8 based on Figure 1

Jawab soalan 6 hingga 8 berdasarkan Rajah 1

Figure 1
Rajah 1

6. At P = $80, how much is profit in the short run?

Pada P = $80, berapakah keuntungan dalam jangka pendek?

a. $88
b. $306
c. $351
d. $1,000

7. How much is output in the long run?

Berapakah output dalam jangka masa panjang?

a. 22
b. 34
c. 50
d. 64

8. At P = $80, the profit-maximizing output in the short run is:

Pada P = $80, kuantiti yang memaksimumkan keuntungan dalam jangka pendek ialah:

a. 22
b. 34
c. 39
d. 50

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)

 lOMoARcPSD|26307036

Answer questions 9 to 11 based on the following statement.

Jawab soalan 9 hingga 11 berdasarkan kenyataan berikut.

Suppose you are the manager of a watchmaking firm operating in a competitive market.
Your cost of production is given by C = 640 + 10q2, where q is the level of output and C
is total cost.
Katakan anda adalah pengurus sebuah firma pembuatan jam yang beroperasi dalam
pasaran yang kompetitif. Kos pengeluaran anda diberikan oleh C = 640 + 10q2, di mana
q ialah kuantiti keluaran dan C ialah jumlah kos.

9. If the price of watches is $240, how many watches should you produce to maximize profit?
Jika harga jam ialah $240, berapa banyak jam yang perlu anda hasilkan untuk
memaksimumkan keuntungan?

a. 12
b. 24
c. 20
d. 40

10. What will the profit level be?

Berapakah tahap keuntungan?

a. 2,880
b. 800
c. 2,080
d. 2,400

11. What is the quantity that you will produce in the long run?
Apakah kuantiti yang anda akan hasilkan dalam jangka masa panjang?

a. 12
b. 24
c. 20
d. 40

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)

 lOMoARcPSD|26307036

12. The shaded area in the graph shows:

Kawasan berlorek dalam graf menunjukkan:

a. the increase in profit when output is reduced from 8 to 7 units of output.

peningkatan keuntungan apabila keluaran dikurangkan daripada 8 kepada 7 unit
keluaran.
b. the profit that could be made if output increases from 7 to 8 units of output.
keuntungan yang boleh diperoleh jika keluaran meningkat daripada 7 kepada 8 unit
keluaran.
c. the deadweight loss associated with the power of the price taking firm.
kerugian luput yang berkaitan dengan kuasa firma pengambil harga.
d. the amount of profit when 8 units of output are produced.
jumlah keuntungan apabila 8 unit keluaran dihasilkan.

13. In a competitive market, a firm should choose its output so that the marginal cost equals
Dalam pasaran kompetitif, firma harus memilih output supaya kos marginal sama dengan

a. price
harga
b. supply
penawaran
c. demand
permintaan
d. sales
jualan

14. If losses are sustained in the long run, this is the best thing the firm could do.
Jika kerugian berterusan dalam jangka masa panjang, ini adalah perkara terbaik yang
boleh dilakukan oleh firma.

a. exit
keluar
b. expand
mengembang
c. stay
kekal
d. advertise
mengiklankan

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)

 lOMoARcPSD|26307036

Answer questions 15 to 17 based on the following statement.

Jawab soalan 15 hingga 17 berdasarkan pernyataan berikut.

Suppose the supply of low-skilled labor is given by 𝐿𝑆 = 10𝑤 where 𝐿𝑆 is the quantity of
low-skilled labor (in millions of persons employed each year), and 𝑤 is the wage rate (in
RM per hour). The demand for labor is given by 𝐿𝐷 = 80 − 10𝑤. The federal government
plan to imposed RM5 minimum wage per hour.

Katakan penawaran buruh berkemahiran rendah diberikan mengikut 𝐿𝑆 = 10𝑤 di mana

𝐿𝑆 kuantiti buruh berkemahiran rendah (dalam berjuta-juta orang yang bekerja setiap
tahun), dan 𝑤ialah kadar upah (dalam RM sejam). Permintaan untuk buruh diberikan oleh
𝐿𝐷 = 80 − 10𝑤. Kerajaan persekutuan bercadang untuk mengenakan gaji minimum RM5
sejam.

15. What is the free-market wage rate

Apakah kadar upah pasaran bebas

a. RM10 sejam
b. RM4 sejam
c. RM8 sejam
d. RM5 sejam

16. What is the free-market employment level?

Apakah tahap pekerjaan pasaran bebas?

a. 100
b. 80
c. 50
d. 40

17. What would be the total of employment if government imposed minimum wage?
Apakah jumlah pekerjaan jika kerajaan mengenakan gaji minimum?

a. 20
b. 30
c. 40
d. 50

18. The supply and demand for rubber is given by 𝑄𝑆 = 16 + 0.4𝑃 and 𝑄𝐷 = 32 − 0.4𝑃,
respectively. If the supply is limited to 20 unit, calculate the deadweight loss.
Penawaran dan permintaan bagi getah diberikan oleh 𝑄𝑆 = 16 + 0.4𝑃 dan 𝑄𝐷 = 32 − 0.4𝑃,
masing-masing. Jika penawaran dihadkan kepada 20 unit, hitung kerugian luput.

a. 25
b. 15
c. 40
d. 8

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)

 lOMoARcPSD|26307036

Answer questions 19 to 24 based on the following statement:

Jawab soalan 19 hingga 24 berdasarkan pernyataan berikut:

The domestic supply and demand curves for coffee beans are as follows:
Supply: P = 50 + Q Demand: P = 200 - 2Q
where P is the price in $ per kilogram and Q is the quantity in millions of kilogram. The
U.S. is a small producer in the world coffee bean market, where the current world market
price (which will not be affected by anything we do) is $60 per kilogram. Government is
considering a tariff of $40 per kilogram.

Keluk penawaran dan permintaan domestik untuk biji kopi adalah seperti berikut:
Penawaran: P = 50 + Q Permintaan: P = 200 - 2Q
di mana P ialah harga dalam $ sekilogram dan Q ialah kuantiti dalam berjuta-juta kilogram.
AS adalah pengeluar kecil dalam pasaran biji kopi dunia, di mana harga pasaran dunia
semasa (yang tidak akan terjejas oleh apa-apa yang kita lakukan) ialah $60 sekilogram.
Kerajaan sedang mempertimbangkan tarif $40 sekilogram.

19. Calculate the equilibrium quantity and price without government intervention.
Kira kuantiti dan harga keseimbangan tanpa campur tangan kerajaan.

a. Quantity=40, Price=$100
b. Quantity=50, Price=$100
c. Quantity=150, Price=$120
d. Quantity=30, Price=$80

20. Find the domestic price of coffee beans that will result if the tariff is imposed.
Cari harga domestik biji kopi yang akan terhasil sekiranya tarif dikenakan.

a. $100
b. $80
c. $110
d. $140

21. Calculate the dollar gain or loss to domestic consumers

Kira untung atau rugi dolar kepada pengguna domestik

a. $0
b. $2,400
c. -$1,200
d. -$2,400

22. Calculate the dollar gain or loss to domestic producers

Kira untung atau rugi dolar kepada pengeluar domestik

a. $0
b. $1,200
c. $2,400
d. -$1,200

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)

 lOMoARcPSD|26307036

23. Calculate the government revenue from the tariff

Kira hasil kerajaan daripada tarif

a. $0
b. $400
c. $800
d. $11,200

24. Calculate the deadweight loss

Kira kerugian luput

a. $0
b. $400
c. $800
d. $1,200

25. What is a Monopoly?

Apa itu Monopoli?

a. There's only one buyer in a market

Hanya ada seorang pembeli di pasaran
b. There's only one seller in a market
Hanya ada seorang penjual di pasar
c. A popular board game
Permainan yang popular
d. Both A and B
Kedua-dua A dan B

Answer questions 26 to 30 based on the following statement.

Jawab soalan 36 hingga 30 berdasarkan pernyataan berikut.

Suppose that an industry is characterized as follows:

C=100+2q2 each firm’s total cost function
P=90-2Q industry demand curve

Katakan bahawa industri dicirikan seperti berikut:

C=100+2q2 jumlah fungsi kos setiap firma
P=90-2Q keluk permintaan industri

26. If there is only one firm in the industry, find the monopoly quantity
Jika terdapat hanya satu firma dalam industri, cari kuantiti monopoli

a. 11.25
b. 10.25
c. 10.00
d. 12.00

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)

 lOMoARcPSD|26307036

27. If there is only one firm in the industry, find the monopoly price
Jika terdapat hanya satu firma dalam industri, cari harga monopoli

a. $67.00
b. $67.50
c. $68.00
d. $70.00

28. If there is only one firm in the industry, find the monopoly profit.
Jika terdapat hanya satu firma dalam industri, cari keuntungan monopoli.

a. 406.25
b. 400.00
c. 415.50
d. 420.00

29. Find the price and quantity if the industry is competitive.

Cari harga dan kuantiti jika industri berdaya saing.

a. price=$50, quantity=15 unit

b. price=$60, quantity=15 unit
c. price=$65, quantity=10 unit
d. price=$55, quantity=10 unit

30. Find the profit if the industry is competitive.

Cari keuntungan jika industri berdaya saing.

a. $300
b. $350
c. $420
d. $450

10

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)

 lOMoARcPSD|26307036

Answer questions 31 to 36 based on the following statement.

Jawab soalan 31 hingga 36 berdasarkan pernyataan berikut.

Michelle’s Monopoly Mutant Turtles (MMMT) has the exclusive right to sell Mutant Turtle
10,000
t-shirts in the United States. The demand for these t-shirts is 𝑄 = 𝑃2 . The firm’s short-
run cost is 𝑆𝑅𝐶 = 2,000 + 5𝑄, and its long-run cost is 𝐿𝑅𝐶 = 6𝑄.
Michelle's Monopoly Mutant Turtles (MMMT) mempunyai hak eksklusif untuk menjual t-
10,000
shirt Mutant Turtle di Amerika Syarikat. Permintaan untuk t-shirt ini adalah 𝑄 = 𝑃2 . Kos
jangka pendek firma ialah 𝑆𝑅𝐶 = 2,000 + 5𝑄 , dan kos jangka panjangnya ialah 𝐿𝑅𝐶 = 6𝑄.

31. What price should MMMT charge to maximize profit in the short run?
Apakah harga yang perlu MMMT kenakan untuk memaksimumkan keuntungan dalam
jangka pendek?

a. $15
b. $30
c. $25
d. $10

32. What quantity does it sell?

Apakah kuantiti yang dijual?

a. 100 unit
b. 150 unit
c. 250 unit
d. 300 unit

33. How much profit does it make?

Berapa banyak keuntungan yang diperoleh?

a. $1,000
b. -$1,000
c. $1,500
d. -$1,500

34. Would it be better off shutting down in the short run?

Adakah lebih baik ditutup dalam jangka pendek?

a. Yes
Ya
b. No
Tidak
c. Maybe
Mungkin
d. I don’t know
Saya tidak tahu

11

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)

 lOMoARcPSD|26307036

35. What price should MMMT charge in the long run?

Apakah harga yang perlu dicaj oleh MMMT dalam jangka masa panjang?

a. 12
b. 10
c. 8
d. 15

36. How much profit does it make?

Berapa keuntungan yang diperoleh?

a. 416.66
b. 66.66
c. 8333.33
d. 83.33

37. This is a market structure in which a single buyer substantially controls the market as the
major purchaser of goods and services offered by many would-be sellers
Ini ialah struktur pasaran di mana pembeli tunggal dengan ketara mengawal pasaran
sebagai pembeli utama barangan dan perkhidmatan yang ditawarkan oleh ramai bakal
penjual

a. Monopoly
Monopoli
b. Monopsony
Monopsoni
c. Oligopoly
Oligopoli
d. Perfect Competition
Persaingan sempurna

38. Equilibrium in a monopsony market occurs when

Keseimbangan dalam pasaran monopsoni berlaku apabila

a. marginal value equal with marginal expenditure

nilai marginal sama dengan perbelanjaan marginal
b. marginal value equal with average expenditure
nilai marginal sama dengan perbelanjaan purata
c. marginal value equal with supply curve
nilai marginal sama dengan keluk penawaran
d. marginal value equal with demand curve
nilai marginal sama dengan keluk permintaan

12

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)

 lOMoARcPSD|26307036

Answer questions 39 to 40 based on the following statement.

Jawab soalan 39 hingga 40 berdasarkan pernyataan berikut.

The employment of teaching assistants (TAs) by major universities can be characterized

as a monopsony. Suppose the demand for TAs is 𝑊 = 20,000 − 100𝑛, where 𝑊 is the
wage (as an annual salary) and 𝑛 is the number of TAs hired. The supply of TAs is given
by 𝑊 = 5,000 + 50𝑛.
Pengambilan kerja pembantu pengajar (TA) oleh universiti utama boleh disifatkan sebagai
monopsoni. Katakan permintaan untuk TA ialah 𝑊 = 20,000 − 100𝑛, di mana 𝑊 adalah
upah (sebagai gaji tahunan) dan 𝑛 bilangan TA yang diambil. Penawaran TA diberikan
oleh 𝑊 = 5,000 + 50𝑛.

39. If the university takes advantage of its monopsonist position, how many TAs will it hire?
Jika universiti mengambil kesempatan daripada kedudukan monopsoninya, berapa banyak
TA yang akan diambil kerja?

a. 80
b. 50
c. 75
d. 100

40. If, instead, the university faced an infinite supply of TAs at the annual wage level of
$15,000, how many TAs would it hire?
Jika, sebaliknya, universiti menghadapi penawaran TA yang tidak terhingga pada tahap
gaji tahunan $15,000, berapa banyak TA yang akan diambil kerja?

a. 80
b. 50
c. 75
d. 100

-End of Question Paper-

-Kertas Soalan Tamat-

13

Downloaded by Muhammad Che Hamizom (mzhizal710@gmail.com)