SUMMATIVE QUIZ FOR MICROECONOMICS

RHYAN MIKE BACARO- QUIZ FACILITATOR

GUIDELINES

 Prepare a 1 whole sheet of paper

 Write your name, year and section

 There will only 4 items in this quiz, each item shall be answered in just 15 minutes only.

 Questions or problem will be flashed on screen

 Time shall start when the question is given

 NO CHEATING DURING THE QUIZ, once caught, the quiz master shall immediately get the paper and student
is advised for a special quiz. Only your 1 whole, scratch paper and pen must be on your armchair.
 In the last part of this quiz, when the time is ended, immediately pass your paper in front. If not doing so, paper
might not be accepted.
PRAYER BEFORE THE QUIZ

Come Holy Spirit and graces.

Help me recall facts I have studied for this quiz.
Guide my thinking process & fill my mind with the
ideas & concepts I need to know in order to do well.
Illuminate my mind & make me clear the answer I am supposed to give for each questions.
As I answer, keep my thought clear & concise
Replace any anxiety I feel with in knowing that
Your are with me to assist me and guide my responses
AMEN.
PROBLEM NO. 1
Answer the question directly.

Mang Ramon is popular in their community because of his especial Star bread and Monay.
Considering the same inputs of production, for him to produce 100 quantities of Star Bread there
must be no output for Monay. Another point of combination, he can produce 75 Star bread
while only 25 for Monay. He may also balance the number of production in a given time. For
him to produce 75 Monay, he has to lower the production of star bread to 25. It is also one of the
combinations, 100 for Monay while none for Star Bread. Given this data, create the Production
Possibility Frontier.
PROBLEM NO. 2
Answer the question directly.

When Mang Ramon sell his 25 pieces of Star bread for P3 each there was 100 quantity
demanded, when he decided to increase the price to P5, he gets 50 quantity demanded which is
equal to the quantity demanded of his bread. To maximize the profit, Mang Ramon raised the
price of bread by P2, in this point he was able to produce 100 pieces but only 25 units was sold.
Given this situation, create a demand and supply schedule and plot the table into curve to
identify the equilibrium point. Also provide the amount of surplus and shortage.
PROBLEM NO. 3
Answer the question directly.

Considering the situation in Problem No. 2, supposed that at the price of 5, the quantity
demanded for bread diminished by 50% due to the new preference of consumers which is the
Emsaymada. From this problem, create a graph that shows shifting of demand curve. Provide
brief explanation.
PROBLEM NO. 4
Answer the question directly.

Considering the situation in Problem No. 2, supposed that at the price of 5, the quantity
supplied was doubled due the use of machineries in the production process. From this problem,
create a graph that shows shifting of supply curve. Provide brief explanation.