Department of Business Studies

Department of Finance & Accounting

BBBEC-1114 Economics I
TUTORIAL QUESTIONS (May Semester, 2019)
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Textbook: Mankiw,N.G. (2018). Principles of Economics, Asia edition, Singapore: Cengage
Learning Asia Pte Lt.

Tutorial 1 (Ch1 & 2)

1. Answer Question 5 on p17.

2. Answer Question 10 on p17.

3. Answer Question 1 on p35.

4. Answer Question 2 on p35.

5. Answer Question 6 on p36.

Tutorial 2 (Ch4 & 5)

1. Answer Question 3 on p87.

2. Answer Question 4 on p87.

3. Answer Question 9 on p88.

4. Answer Question 4 on p109.

5. Answer Question 10 on p110.

6. Answer Question 11 on p110.

Tutorial 3 (Ch6 & 7)

1. Answer Question 2 on p129.

2. Answer Question 4 on p129.

3. Answer Question 8 on p130.

4. Answer Question 7 on p151.

5. The supply and demand for broccoli are described by the following equations:
Demand: QD = 100 – 2P
Supply: QS = 4P – 80
Q is in bushels, and P is in dollars per bushel.

a. What is the equilibrium price and quantity?

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 b. Calculate consumer surplus, producer surplus, and total surplus at the equilibrium.
c. If a dictator who hated broccoli were to ban the vegetable, who would bear the larger
burden, the buyers or sellers of broccoli?

Tutorial 4 (Ch3 & 9)

1. Answer Question 3 on p60.

2. Answer Question 8 on p61.

3. Answer Question 3 on p185.

4. Answer Question 4 on p185.

Tutorial 5 (Ch10 & 11)

1. Answer Question 9 on p209.

2. Answer Question 4 on p208.

3. Answer Question 2 on p224.

4. Answer Question 6 on p225.

Tutorial 6 (Ch13 & 14)

1. Answer Question 9 on p266.

2. Answer Question 8 on p265.

3. Answer Question 10 on p287.

4. Answer Question 5 on p286.

5. Answer Question 11 on p287.

Tutorial 7 (Ch15)
1. Answer Question 2 on p314.

2. Answer Question 4 on p315.

3. Answer Question 5 on p315.

4. Answer Question 8 on p316.

Tutorial 8 (Ch16 & 18)

1. Answer Question 4 on p334.

2. Answer Question 6 on p335.

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3. Answer Question 10 on p335.

4. Answer Question 7 on p381.

5. Answer Question 8 on p381.

Tutorial 9 (Ch23 & 25)

1. Answer Question 5 on p493.

2. Answer Question 9 on p493.

3. Answer Question 1 on p540.

4. Answer Question 4 on p540.

5. Answer Question 7 on p540.

Tutorial 10 (Ch26 & 28)

1. Answer Question 1 on p560.

2. Answer Question 6 on p561.

3. Answer Question 2 on p598.

4. Answer Question 8 on p599.

5. Answer Question 9 on p599.

Tutorial 11 (Ch29 & 30)

1. Answer Question 6 on p625.

2. Answer Question 9 on p625.

3. Answer Question 12 on p625.

4. Answer Question 3 on p650.

5. Answer Question 9 on p650.

Tutorial 12 (Ch31)
1. Answer Question 2 on p674.

2. Answer Question 5 on p674.

3. Answer Question 7 on p674.

4. Answer Question 9 on p675.