ASSIGNMENT QUESTION

GENERAL GUIDE
1.

Students are required to be in a group of SIX and submit their peer evaluations form.

2.

Students will get product / services for your group assignment from the tutor.

3.

Answers are to be typed on one side of answer sheets only, using Times New Roman font
size 12, with 1.5 spacing.

4.

References in APA style must be included and taken from reliable sources such as books
or journals.
Refer to: http://www.emich.edu/halle/style_guides.html to view the details and samples
of APA style.

5.

Maximum pages, including graphs (if any): 15. Students must footnote sources and must
not copy and paste information from the internet. If you use internet sources, either put those
sources in quotations or put those sources INTO YOUR OWN WORDS. Plagiarism, copying
and cheating will NOT be awarded any mark, and disciplinary actions will be taken instead.

6.

Submit your assignment in booklet form. List out all the group members correctly.

7.

The assignment has to be submitted on Week 7, Wednesday, 09 November 2016 by

1.00pm. Marks will be deducted 50% for the late submission.

8.

9.

This assignment contributes 15 % of the total marks for the course.

Any enquiries should be directed to your respective tutor either during lecture/tutorial or
via emails.

Questions
Questions are to be answered based on the specific guidelines below:
Part 1
Choose a product or service that can be categorized as belonging to an Oligopoly
market / Monopolistic Competition market.
(15 marks)
- Introduction of the company
- Introduction of the product / service
-

Normal products / services or inferior products / services or luxury products /

service
Complement and substitute product / service

Which market structure do they belong to? Why? (Explain the relevant and
suitable characteristics)

Think of a situation in which the product / service that you chose becomes a
monopoly in the particular industry. Describe will the economics become worse
off or better off?

Part 2
Compare the price of the product / service with the close substitution.
(5 marks)
- Describe your findings (eg. The price is almost the same or different).
-

State the reasons why they can sell at a higher price / same price / lower price as
compared with their competitor.

Part 3
From the firms viewpoint, what are the advantages and disadvantages of being an
oligopoly / monopolistic competition?
From the viewpoint of the customer, what are the advantages and disadvantages of
buying the product under this market structure?
(10 marks)
Part 4
Discuss whether your empirical findings in this research had fulfilled your expectations
regarding economics theory that you had learned. (Prove with the supporting documents,
if any.)
- Example: Law of Demand, Theory of Price Elasticity of Demand, Market Structure and
etc.
(20 marks)
Assignment Format

(10 marks)
[Total: 60 marks]