Deadline: 16/04/2022 @ 23:59
(To be posted/released to students on BB 28/03/2022)
Course Name: Microeconomics
Course Code: ECON101
Student’s ID Number:
Academic Year: 1442/1443 H, 2nd Term
For Instructor’s Use only
Students’ Grade: /10
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
This assignment is an individual assignment.
Due date for Assignment 2 is 16/04/2022
The Assignment must be submitted only in WORD format via allocated folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.
Explain equilibrium of the firm under perfectly competitive market by choosing output level at which
P=MC=MR and Firm is making zero economic profit (1 Mark)
P=MC=MR and Firm is making a loss (1 Mark)
Explain shut down rule with the help of graph (1 Mark)