Asia e University Explain the Term Explicit and Implicit Costs Discussion Questions

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SECTION A (TOTAL: 100 MARKS)
INSTRUCTIONS: ANSWER ALL QUESTIONS
Please use the answer sheet provided.
QUESTION 1
(a) Explain the term Explicit and Implicit costs. Give examples.
(10 marks)
(b) What is Economic Profit as compared to the Financial Profit? To compute Economic Profits,
which costs are used? Give example.
(10 marks)
[TOTAL: 20 marks]
QUESTION 2
(a) What is Price Discrimination. Give examples.
(10 marks)
(b) Determine the conditions for price discrimination to be effective.
(10 marks)
[TOTAL: 20 marks]
QUESTION 3
(a) Oligopoly Market Structure $iscuss the main features and basis of firm competition
(10 marks)
(b) What is Monopolistic Competition? Give examples.
(10 marks)
[Total: 20 marks]
QUESTION 4
(a) Explain the term inflation and how it is measured.
(10 marks)
(a) Describe the fiscal and monetary measures that are normally taken to curb inflation.
(10 marks)
[Total: 20 marks]
QUESTION 5
Mr. Rahim is planning to pursue MBA studies. Initial inquiry shows that he will have
to pay RM 25,000 as tuition fee, buy books for RM 1,000, and pay for transport
RM1,000. The MBA study programme will extend over 15
months. Mr. Rahim is working now with a salary of RM 2,500 per month.
Being a full time student, he will have to forego the income from his present job for
the period of study.
Work out:
(a) Financial cost
(10 Marks)
(b) Economic Cost of doing MBA
(10 Marks
[Total: 20 Marks]
END OF QUESTION PAPER

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