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ECW1101 Introductory Microeconomics Task 1, 2026 | Monash College ECW1101 Task

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A. Smith
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ECW1101 Introductory Microeconomics Task 1, 2026 | Monash College

ECW1101 Task

Unit Title

Introductory Microeconomics

Unit Code

ECW1101

Task Title

Task 1

Task Quantity/Reference

1

Studying Outcomes

This assignment assesses the following finding out outcomes:

Studying Result Quantity

Studying Result Description

1

Be aware financial tips, ideas, instruments and theories to assess particular particular person resolution-making.

3

Analyse and illustrate financial records in diversified solutions, including diagrams, tables and graphs.

Weighting

This assignment is rate 20% of your total grade for this unit. Please study the assignment rubric for the weightings of every assessment criterion.

Requirements

This assignment has the following requirements:

Task Kind

Right here is a particular person assessment job.

Response Structure

Brief essays. Would possibly maybe unbiased contain diagrams, graphs, or tables, as an instance the evaluation.

Put up most effective 2 separate documents (in full):

1. Your Task 1 answers (remaining model for grading).

1. Your assessment coversheet (dated, signed).

Response Specifications

Complete phrase depend: 1,000 + 10% most (no minimal). Any phrase depend above the said most will incur a penalty.

Submission Task

Please post on-line by Moodle in the disbursed Task 1 Submission Folder (FOR GRADING).

Submission by email (or any other manner) would possibly maybe no longer be licensed.

Notes:

You are anticipated to:

1) Put up in both MS Observe or PDF structure. Other codecs are no longer acceptable.

2) Employ double-spacing, font dimension 12, in both Arial or Instances Fresh Roman most effective.

3) Existing the full phrase depend for your resolution to each quiz.

4) Comprise illustrations (e.g., diagrams, tables, equations, and so forth.) the build relevant. You are allowed to sketch your illustrations by hand on a gleaming sheet of white paper and add their photos into your answers.

5) Stumble on your illustrations near their rationalization (no longer in the Appendix) for more uncomplicated reference by the reader. Be particular that every particular person illustrations are smartly labelled.

6) Footnotes and Appendices would possibly maybe quiet no longer be feeble, except wanted. Any subject fabric in the Appendices will no longer be graded.

7) You are no longer required to contain any in-text citations or references.

Task Instructions  (read fastidiously)

There are three separate questions below. Acknowledge each quiz in the create of an essay that contains several quick paragraphs of staunch sentences. Transient answers in ‘point create’ or ‘bullet create’ have to no longer acceptable. Be particular that you number your resolution to each quiz accordingly and clearly.

Every of these questions assessments the financial tips, ideas, or units from the ECW1101 syllabus of Weeks 1 to some. By the date of submission, that you might quiet earn watched the connected lecture movies and undergone the interactive e-finding out modules in Moodle. Employ what you would earn gotten learned from these sources, along with what became as soon as discussed on your tutorial classes from Weeks 2 to 4, to answer the questions below. Recall that, at this stage in the syllabus, that you might quiet speak that every particular person markets are free and competitive, and that there might be no worldwide change.

Illustrate with diagrams or calculations, the build acceptable, to define your analyses. Be particular that your diagrams are smartly labelled. Marks would possibly maybe no longer be awarded for diagrams which would be no longer as it will seemingly be or entirely labelled.

QUESTION 1  (5 marks)

Labour hours wished to invent 1 unit of:

Moral x

Moral y

Adam

2

6

Betty

1

4

Both Adam and Betty are the most effective producers in the country of Gardenia, and they also are required to work forty eight hours per week. Assuming that nearly all effective labour is wished to create each ethical, and that Adam and Betty can swap between the manufacturing of products x and y at a fixed rate without losing any time, resolution the following questions:

a)Sketch the weekly PPF for the country of Gardenia (no rationalization wished), with the amount of ethical y represented on the vertical axis. This draw would possibly maybe quiet gargantuan sufficient to display the particulars clearly. Be obvious to designate the draw entirely.  (1.5 marks)

b)Who has a comparative advantage in the manufacturing of ethical y? Temporarily portray your reasoning.   (1 rate)

c)Now, speak that Adam has unbiased correct carried out a coaching route that doubled his productivity by methodology of ethical x on my own (i.e. he can now create twice the amount of ethical x per hour, ceteris paribus). Would this change your resolution to share (a) and share (b) above?  Point out your resolution.   (2.5 marks)

(Urged phrase depend = 350 ± 10% )

QUESTION 2  (5 marks)

A food-stall proprietor at a obvious university cafeteria bakes kaya buns each morning in his dwelling-kitchen earlier than transporting them to the cafeteria to sell for RM3.50 each, from 9:00 am except 2:30 pm every day. This stall-proprietor would no longer sell day-extinct buns, so all unsold buns are donated to orphanages at 2:30 pm day after day. The rate of producing a kaya bun is RM1.10; there don’t appear to be any charges connected with donating the buns. Suppose that the stall-proprietor has 8 buns left unsold at 2:30 pm on a selected day, and is fervent in two decisions: Both (Risk A) Decrease the associated rate of a kaya bun, but no longer below RM1.10 each, or (Risk B) Decrease the associated rate of a kaya bun even though the associated rate falls below RM1.10 each. What would possibly maybe quiet the stall-proprietor earn? Clearly portray your resolution shut to a precept of economics.
(Urged phrase depend = 300 ± 10%, rather than diagrams

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