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ACCA AB Chapter 20 – Microeconomics – Questions

Reader Interactions

Comments

  1. zuhairabbas says

    May 13, 2023 at 5:13 pm

    Both the video Lectures and the notes are very helpful, Thank you

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  2. zuhairabbas says

    May 13, 2023 at 5:11 pm

    I GOT 100% .

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  3. moe544 says

    March 28, 2023 at 8:22 am

    May i know where can i see answer

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  4. peddyk2 says

    November 7, 2022 at 9:46 am

    Is the inelastic curve not supposed to be less steep that the elastic curve? Or maybe I didn’t understand the question

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    • Ken Garrett says

      November 7, 2022 at 4:41 pm

      Sketch a PQ graph PQ graph with P vertical and Q horizontal. Draw two lines on it, sloping down to the right, at different slopes.

      The less steep line says that a small change in price produces a large change in quantity. That is an elastic characteristic.

      The steeper line shows that it takes a large change in price to produce a change in quantity, so that is an inelastic product.

      So, the line for an inelastic product is steeper than for an elastic product.

      Therefore the proposition in the question is FALSE.

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  5. mukape says

    December 29, 2021 at 1:52 pm

    please explain the concept of fall in product price when complimentary products rise

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    • Ken Garrett says

      December 29, 2021 at 4:51 pm

      Not sure what you mean. However, an example of complimentary products are cars and petrol.

      If the price of petrol falls, this can stimulate more people to buy cars as they can better afford to run them. Or, if the price of cars falls then more will be bought and also more petrol will be bought to run the cars.

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  6. tabasumze says

    March 26, 2021 at 2:38 pm

    Can you please explain what is subsidies for production?

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    • Ken Garrett says

      March 26, 2021 at 6:28 pm

      These are payment to producers, usually from governments. Effectively, they lower the cost of production so that producers are encouraged to produce more.

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  7. thinzartun says

    February 3, 2020 at 6:36 am

    100%

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  8. manlian90 says

    January 21, 2020 at 9:35 am

    hard to get a pass rate especially in demand and supply curve.

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  9. protant says

    November 18, 2019 at 1:42 pm

    please send me the procedure of question number 1

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    • poddubny says

      November 27, 2019 at 9:18 pm

      Hi. The change in demand is 10k-9k=1k; proportional is 1k/10k = 10%
      Change in price is 25-20 = 5; proportional is 5/20=25%
      Price elasticity of demand is proportional change in demand/proportional change in price => 10/25 = 0.4

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      • agboolakenny84 says

        January 8, 2021 at 3:06 pm

        Thanks a lot

  10. peeteekays says

    March 4, 2019 at 4:46 am

    Wooow I just passed everything im happy first time to get 100%…….yeeepy

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  11. zahraacca2 says

    February 14, 2019 at 9:53 am

    I keep falling, and I think my answers are correct can you plz send me answers so I can review where I am wrong… I did everything as the lecturer explained. I wonder where I am wrong.
    Isn’t the answer to the first question 0.5

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    • zahraacca2 says

      February 14, 2019 at 10:05 am

      Okay I got it 0.4

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  12. sushanth12 says

    January 30, 2019 at 3:58 am

    I got 100percent

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    • zahraacca2 says

      February 14, 2019 at 9:54 am

      Can you tell me your answers. I think I am doing it right but for some reason it’s not correct

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  13. Ralitsa says

    January 21, 2019 at 8:06 pm

    The latest notes you have for this exam end with page 103

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    • Ken Garrett says

      January 21, 2019 at 10:10 pm

      The notes end at page 140.

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      • Ralitsa says

        January 22, 2019 at 2:03 pm

        nowhere in the notes is the cost curve shift discussed

      • Ken Garrett says

        January 22, 2019 at 2:16 pm

        They are discussed on Page 133 of the current notes. Question 5 should refer to a shift in supply curves, not cost curves and this will soon be changed. Apologies for the error.

  14. pacos76 says

    January 2, 2019 at 1:22 pm

    First and last questions not very clear

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  15. pacos76 says

    January 2, 2019 at 1:20 pm

    Not clear last question, many people have issues here

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  16. khiloo90 says

    December 16, 2018 at 8:20 am

    man the first question is wrong it is missing the word price

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    • Ken Garrett says

      December 16, 2018 at 8:52 am

      There is no other elasticity of demand you can calculate with this data or any other elasticity of demand that is in the syllabus or study guide, which states: 5. b) Explain elasticity of demand and the impact of substitute and complementary goods.

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  17. tree21 says

    December 9, 2018 at 4:54 pm

    Can anyone give me the answer because I keep failed.

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  18. Ken Garrett says

    December 1, 2018 at 11:36 am

    I think it’s OK.

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  19. stefenite says

    December 1, 2018 at 10:02 am

    Is it “cost curve” in the last qustion or maybe the supply curve is right?

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    • ghassen2018 says

      December 8, 2018 at 10:39 am

      Same here i did not understant the question, and I did not pass, any one can help please

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      • Ken Garrett says

        December 8, 2018 at 2:15 pm

        See pages 132 and 133 in the notes where shifting of a cost curve to the right is explained.

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