[Question 2] [Tobacco King is a monopolist in the cigarette market in Nicotiana Republic, where the Singaporean dollar is used as the ofcial currency. The rm has a constant marginal cost of $2.00 per pack. The xed cost of the rm is $50 million. The rm's demand curve can be expressed as P = 8 - 0.04Q. where Q is the quantity demanded (in millions of packs) and P is the price per pack (in $).] a. [In a table show Tobacco King, the monopolist's demand schedule, total revenue. average revenue. and marginal revenue for prices $2, $4, $6, and $8. (Hint: demand schedule refers to prices and quantity demanded at those prices). (4 marks)] b. [Based on the table created in answer to part (a), show Tobacco King's average revenue and marginal revenue curves in a graph. Comment on why the AR curve lies below the MR curve in 100 words or less. (3 marks)] 0. [Add marginal cost curve to the graph drawn in part (b). Find out the price and quantity combination of cigarettes packets at which, Tobacco King will maximize its prot. (3 Marks)] Annular [Question 5] [There are 100 workers in Vietnam, and each worker can produce either 10 shirts or 2 hats. There are 200 workers in the Bangladesh, and each can produce 4 shirts or 10 hats.] a. [Draw the Production Possibility Curves (PPC) for each country. What is the opportunity cost of shirts in Vietnam? What is the opportunity cost of shirts in Bangladesh? Which country has a comparative advantage in the production of shirts? (5 marks)] b. [In the absence of trade, if Vietnam consumes 600 shirts, how many hats can it consume? In the absence of trade, if Bangladesh consumes 500 hats. how many shirts can it consume? (2 marks)] 0. [Someone now proposes that Bangladesh and Vietnam enter into a trade agreement. Under this agreement, the Bangladesh will give Vietnam 500 hats and Vietnam will give Bangladesh 200 shirts. If Vietnam continues to consume 600 shirts, how many hats will it be able to consume under this proposal? If Bangladesh continues to consume 500 hats, how many shirts will it be able to consume under this proposal? Should Vietnam accept this proposal? Should Bangladesh accept this proposal? (3 marks)] Anewnre