Question: Question 1 - Need to show working. Suppose the demand and supply schedule for OUM's Tshirt is given by (Schedule 1): iv. Dene market equilibrium.

Question 1 - Need to show working.

Suppose the demand and supply schedule for OUM's Tshirt is given by (Schedule 1):

schedule for OUM's Tshirt is given by (Schedule 1): iv. Dene market

iv. Dene market equilibrium. [1 Mark] Determine the equilibrium price and quantity. {2 Marks] Explain by using a diagram, the effects on market equilibrium when the price of cotton {a production input for T-shirts} falls. (3 Marks) Brieflyr explain anyr TWO {2] factors that can cause the demand curve shift to the right {4 Marks] Price Demand of T-shirts Supply of Sweatshirts RM/unit (Units) (units) 10.00 4000 400 20.00 3200 800 30.00 2400 1200 40.00 1600 1600 50.00 800 2000 60.00 0 2400

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