EXAMINATION (online)
Big Assignment
Lecturer’s Signature& full name
Program: VNU
Course Code: INE1050
Course Title: Microeconomics
Level: UG
Trinh Thi Thu Hang
Time allowed: 24 hours
Date: December 20, 2021
Due date: December 29, 2021 (8.30 – 9.30 AM)
Late submission will be penalized by the deduction of
30% of the total mark.
Department’s Signature & full
name
Date: ………………………………
Instructions to students:
1. Closed/Opened book examination: Opened book
2. Submitted your project as a PDF file or image file
3. The file name is as follows: Student name_Student number_Course code
(Example: Nguyễn Văn A_19071122_INE1050.01)
This exam paper contains 02 pages, including the cover page.
Question 1: 2 marks
If only one airline serves a town, does a monopoly exist? What about competition
from other services?
Question 2: 3 marks
Suppose that you are an orange grower. Would you expect the demand for your
orange to be more elastic or more inelastic? Why?
Question 3. 2 marks
Mr Han Cook says that marginal cost is just a funny name for average total cost.
What do you think about this idea?
Question 4. 3 marks
How price reaches equilibrium? Give an example.