Instruction: Answer ALL questions. Tick 'A' if TRUE and 'B' if FALSE.

1. Microeconomics is more concern about national account, inflation, and unemployment.

2. High price will reduce the demand for normal goods in the market.

3. When demand is larger than supply, it's will create shortage in the market.

4. Ceiling price appeared when the goods price is lower than the equilibrium price level.

5. Utility can be measured using the marginal utility over good price equilibrium condition.

6. Wages and salary are fixed cost for firms' operation in the open market.

7. Marginal factor of production will decline over time when the production and labor usage increases.

8. Money is part of factor of production in economy.

9. Ali's marginal utility level will increase once he consumes more and more durians form the market.

10. Government will use ceiling price to protect paddy producers in the Northern states of Malaysia.