Q1. In the burger market, there are two person buyers and two person sellers. The demand for buyer A and buyer B is: Qa = 200-20P and Qb= 100-20P. The supply functions for seller C and seller D is: Qc=50+10P and Qd = 100 + 10P Based on the market demand and supply above, please answer all questions below: a) Calculate the functions of market demand (Ox) and market supply (Qy) refer to the information given. b) Show the quantity demanded for Qa, Qb, Qx and Qc, Qd, Qy for the price is RM4 and RM2 in the one table. () Determine the price and quantity for burger equilibrium in the market. d) In the same of graph paper, you need to draw : i) Draw a demand curve for buyer A and B ii) Draw a supply curve for seller C and D iii) Draw a market demand and supply of burger market iv) Determine the price and quantity equilibrium of the market. :) Calculate and interpret the price elasticity of demand and supply when the market price fall from RM4 to RM2 with using a: i. Normal formula of price elasticity of demand ij. Arc (mid point) formula of price elasticity of demand f) If the government want to implement the price control mechanism, explain the mechanism when the price set at RM3 and RM5 respectively.Q2. The table 1 below is shown the production theory of labour for company D'LIMAU Son Bhd. Input X Input Y Total Product Average Product Marginal (TP/Q) AP Product (MP) 0 0 20 80 180 4 230 270 270 7 210 Please answer all questions below: a) Distinguish the concept of short run production and long run product. What is the situation on this production theory by company D'LIMAU Son Bhd?. b) Complete the table 1 above for AP and MP. Draw a suitable diagram to show the production theory in this case. c) Determine the three (3) stages of production. Sketch the condition of increasing marginal of return, diminishing marginal of return and negative marginal of return for labour. d) Explain the concept of law of diminishing marginal of return with the demand curve of labour form employers perspective. e) If the labour cost (minimum wage) for labour productivity is RM40, how many labour that required by the employer? Justify