Đề thi Kinh tế vi mô (Microeconomics) – 5 câu (3 lý thuyết, 2 tính toán)

Explain the concept of opportunity cost and give one example of how it applies to a household's decision between studying economics and working part-time.

Using the concept of comparative advantage, explain why two countries can gain from trade even when one country has an absolute advantage in producing both goods.

Describe the law of demand and explain how a change in the price of a substitute good (e.g., cinema tickets vs. Netflix subscriptions) shifts the demand curve for the original good.

The demand function for a good is and the supply function is , where P is price and Q is quantity. Find the equilibrium price and equilibrium quantity.

Two individuals, A and B, can produce 1 unit of food and 1 unit of clothing per hour as follows: A can produce 6 units of food or 2 units of clothing in one day; B can produce 4 units of food or 4 units of clothing in one day. (a) Calculate the opportunity cost of producing one unit of food for A and for B. (b) Which individual has the comparative advantage in producing food? Explain briefly.