econsss test esokkk bukti tira study haha

MALASSSSSSSSSSSSSSSSSSSSS.

eh. kene RAJINNNNNNNNNNNNNNN.

T.T

If tax is imposed, the supply curve shifts to the left. This will lead to an increase in price and decrease in the quantity demanded. The movement along the demand curve is called the contraction of demand.

If subsidy is allowed, it will be attractive for the producer to produce more as the cost of production is less, and this is shown by the shifting of the supply curve to the right. The price will be lower and the quantity demanded will increase. The movement along the demand curve is called the expansion of demand.

Ok kalau minimum pricing/price floor, it is to protect the interests of producers against fall in income sbb banyak sgt harvest sampai tak terjual(bumper harvest). This is necessary when the equilibrium price is set too low so the price floor is fixed by the gov to create surplus (qty ss> qty dd). Price floor is fixed ABOVE the equilibrium price (terbalik ng 'floor' tu, in this case 'floor' is atas) . The surplus that was created then was either stored (if non-perishable lah), canned/processed or dumped. Dumped in this case bukan buang, dumped is selling at veryyyveryyy low price in overseas market, maybe even below cost.

Kalau maximum price pulak is the TOTAL opposite of minimum price. Maximum price, or price ceiling *see see terbalik kan dgn price floor!* is to protect the interests of consumers on the essential products such as sugar, bread.. etc. This is necessary when the equilibrium price is set too high sampai ramai org tak mampu nk beli. So the gov will set the price below the equilibrium price and it is the highest price that a producer can charge or else it will be illegal. The effect of this fixing is that the qtydd > qtyss so shortages will occur. Shortages could lead to the development of black market (when the transactions of buyers and sellers are above the controlled price) To avoid black market from developing, rationing is a must.

Ped>1/relatively elastic, the curve is gently sloping intersecting the vertical axis. The percentage change in qty dd is proportionately larger than the percentage change in price. Sooo kalau nk increase total revenue, the price should be lowered. Goods that are relatively elastic are the goods with high price sensitivity (substitutes laaa mcm kopi ng teh)

Ped<1/relatively>

.....break tgok fb jap.

... ok sambung.

ah penat.