Short answer questions on Prices and Market, Mircroeconomics

Marks will be awarded based on how well you: (a) understand the economic concepts from the lectures (Please only use concepts given in the attached Lecture slides) ; (b) apply the concepts to the question(s); (c) conduct systematic economic analysis using the concepts (this includes the use of appropriate graphs and diagrams); and (d) draw conclusions, if appropriate. Note that general layman discussions do not constitute sufficient economic analysis. Assignments should be typed, using 10 – 12 sized font and 1.5 – 2 line spacing. Graphs and diagrams can be hand drawn and scanned in, but must be clearly drawn and clearly labelled.

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