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Question 3 Table 2 shows Salim's utility from consuming Nasi Lemak and Teh Tarik. Suppose that Salim has RM7 per week to spend on Nasi Lemak and Teh Tarik, the price of Nasi Lemak is RM2 and the price of Teh Tarik is RM1. Table 2 Number of Nasi Total utility from Number of Teh Total utility from Lemak Dishes Nasi Lemak Tarik cups Teh Tarik 30 40 2 55 IN 75 3 75 3 101 4 90 119 5 100 5 134 6 105 6 141 Continued... UA 2/4 BME1014 INTRODUCTORY MICROECONOMICS 28 FEBRUARY 2020 i. Show Salim optimal combination of Nasi Lemak and Teh Tarik taking in to account his budget constrain (7 marks) ii. Show Salim optimal combination of Nasi Lemak and the TehTarik assuming that there is no budget constrain. (3 marks) (b) Assume that Peter opens a restaurant that sells Italian pizza in his hometown. Use Figure 1 that show the demand and cost of Peter's Italian pizza to answer the following questions: i. Based on Figure 1, is this a perfectly competitive market or a monopolistic competitive market? Explain. (3 marks) ii. What is the optimal number pizzas Peter should sell per day, and at what price he should charge? Explain. (6 marks) iii. Based on part (b)(ii), how much profits/loss is Peter making by selling that amount of pizzas? Explain. (6 marks) MC 8 ATC Figure 1 2.4 D 30 45 55 MR