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X New Tab X X 6 0 QUESTION 1 (25 Marks) CASE STUDY: DEMAND FOR CHILLIES AND GOVERNMENT PRICE CONTROL Consumers may opt for imported vegetables to avoid paying inflated price for local greens, but there is no substitute for that favourite ingredient in Malaysia food - the red chilies. Despite the record high of RM15.00 a kg. at a Pudu Wet market on Monday, demand for red chilies has not abated. RM15.00 a kilo is twice the normal price of red chilies but customers are not complaining because red chilies are scarce and it still not a high as RM15.00 a kg. Another vegetables seller said some customers who could not get red chilies would settle for the small Thai chilies that cost RM5.00 per kg. Most customers have claimed that certain stall operators at the Pudu market "hid" their red chilies and only sold them to regular customers. At the Selayang wholesaler market. vendors cited the current wet weather and higher transportation costs as reasons behind the current vegetable price rise. There, red chilies were sold at between RM10 and RM12.00 a kilo, up from RM8 to RM9 last week. So, Penang Federation of Vegetable Sellers Association advisor urged government agencies to import vegetables to ease the shortage and price control mechanism to protect the consumer's welfare. Source : The Star, Malaysia, 12 January 2019 Answer the following questions based on case study entitled "Demand for chilies and Government Price Control" 1. Contrast between the concept of change in quantity demanded and change in demand for red chilies, (10 marks) 2. With an appropriate diagram, explain the government of price control mechanism for red chilies in Malaysia, (15 marks) Click to open: & Edit Format Table 12pt Paragraph BIYALT L vivo Y20s 2022.02.19 09:51