QUESTION 1 One of the topics that is often discussed among economists in analyzing Economic issues are about elasticity. Likewise, this topic has also become very important indicator for other economic actors, for example for producers as material in making decisions about what business is the most profitable, and for consumers as the basis for making requests to meet their consumption needs. The demand for a type of good can be elastic and can be less elastic if it occurs changes in the price of the goods. From the snippet, please answer some the following questions succinctly and clearly: 1) Explain the concept of price elasticity of demand and its calculation; 2) Explain clearly the types of elasticity, the magnitude of the value of elasticity and the meaning of the value of the elasticity and the sample of the goods (if any); and 3) Give your opinion regarding the difference between the elasticity of demand and the slope of the curve request

QUESTION 2 Changes in the price of an item will also affect the quantity demanded the goods themselves, will also affect the demand for other goods, both goods Substitutes and complementary goods. There are two effects caused by the change, namely: substitution effect and income effect. Answer the following questions regarding the above topic, that is: 1) Explain the meaning of substitute goods, the types of goods, and how it will affect if the price of substitute goods increases or decreases; 2) Explain the meaning of complementary goods, examples of goods, and how the effect if the price of complementary goods increases or decreases; ] 3) explain the substitution effect and the income effect of normal goods using graphs

QUESTION 3 Production is the process of input or several inputs into output. In doing production activities, producers face not necessarily able to add all inputs to increase output if there is an increase in demand for that output. So that In the theory of production and costs, two types of production periods can be distinguished, namely: short-term production and long-term production periods. Question: 1) explain the following terms, namely isoproduct, isocost and Marginal Rate of Technical substitution (MRTS); 2) explain what is meant by the assumption of using 2 factors of production, namely Capital (K) and labor (L), explain the optimal combination of output with minimize costs and maximize output;

QUESTION 4 The structure of the pure monopoly market is and the structure of the pure competition market are two extreme forms of market structure, while other forms of market such as market structures oligopoly, monopolistic competition, and duopoly lie between the two market structures. The monopoly market structure has the characteristics that there is only one seller in the market very strong barriers to entry, no substitutes, and no price competition and others. Regarding the monopoly market structure, answer the following questions: 1) Explain the causes of the emergence of barriers to entry into the monopoly industry; and 2) Explain the profit maximization of the monopolist using the total and approach marginal approach