Demand and Supply of Kitkat
1) Based on the demanded and supply of Kitkat, If I am the manager of Ten-10 in Lim Kok Wing University, I would lower the price of a bar of KitKat. In demand, if I lower the price of a bar of KitKat, the quantity of demanded will increase, so more people would buy the bar of Kitkat. More people in Lim Kok Wing University would afford to buy the bar of Kitkit. In supply, the lower the price of a bar of KitKat, the greater the quantity supply. So there is more product to being sell.
2 a)If the price of chicken rice increase, the quantity demand of chicken rice will decrease, therefore less people will buy chicken rice in Lim Kok Wing University. In supply, the quantity of supply will increase. b)If the price of potato and mix vegetables increase, the price of chicken chop will remain the same. They will put less vegetable and potato for the chicken rice to prevent raise of price of the chicken rice. The cost and quantity of chicken rice will still be the same. So there are no change in quantity of chicken rice and the rise of price in chicken rice.
c)If the price of the chicken rice, burger and Malay cuisine at other outlet in Makanlah increase, the amount of student in Lim Kok Wing that going to eat lunch the will be decrease. The quantity of chicken rice, burger and Malay cuisine will increase because there is less student buy the food.
2 a)If the price of chicken rice increase, the quantity demand of chicken rice will decrease, therefore less people will buy chicken rice in Lim Kok Wing University. In supply, the quantity of supply will increase. b)If the price of potato and mix vegetables increase, the price of chicken chop will remain the same. They will put less vegetable and potato for the chicken rice to prevent raise of price of the chicken rice. The cost and quantity of chicken rice will still be the same. So there are no change in quantity of chicken rice and the rise of price in chicken rice.
c)If the price of the chicken rice, burger and Malay cuisine at other outlet in Makanlah increase, the amount of student in Lim Kok Wing that going to eat lunch the will be decrease. The quantity of chicken rice, burger and Malay cuisine will increase because there is less student buy the food.