急死我了,各位大哥可幫我解決這問題嗎??Question 1
Thousands of people from Mainland China come to Hong Kong for apparel shopping
during every “National Day Golden Week” in October.
(a)
To what market structure does the retailing apparel business belong to? Suggest
four reasons to support your answer. You are required to list and explain each
reason, with reference to the type of business in question, so as to illustrate the main
features of this type of market structure. (13 marks)
(b)
Billy, a student studying Economics, stated, “All apparel shops in the long run can
only earn normal profit”.
(i)
Explain “normal profit”. (2 marks)
(ii) Explain Billy’s statement with the aid of a diagram and using marginal analysis.
Show how output, price, and profit are determined in this market in the long run.
(8 marks)
(c) Economists stated that firms operating in this type of market structure are
inefficient. Explain the underlined statement with any one justification.
(2 marks)
Question 2
(a) Define Gross Domestic Product. (2 marks)
(b) Determine and explain whether the following transactions conducted in 2008
would be included in GDP for the same year. If it is included, state the amount
of their contribution to GDP.
(i) A 20-year-old house was sold to a young family for $7 million in January.
The family paid the real estate agent a 2 percent commission. (4 marks)
(ii) Kelly sold 4,000 shares of HSBC for $89.00 per share in November. She
paid her broker a 0.5 percent commission for executing the sale. (4 marks)