1. Tokopedia is an online marketplace established in Indonesia. So that it can be said that the Tokopedia market is Indonesia.

The statement above is true or false? Explain the reason for the answer.

2. Bayer Gmbh. managed to find a new technology to be able to produce aspirin at a much lower cost. They are considering whether they will reduce the price of aspirin.

a. Illustrate changes in price and quantity on the supply and demand curve if it is known that aspirin demand is very elastic.

b. Illustrate changes in price and quantity on the supply and demand curve if it is known that aspirin demand is very inelastic.

c. Compare how the Quantity and Price changes occur in the two curves. Explain.