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Chicken ceiling price has 'flown the coop' By Dawn Chan, Dhesegaan Bala Krishnan - April 6, 2022 @ 9:20am 1 KUALA LUMPUR: The government's ceiling price for standard chicken set at RM8.90 per kilogramme appears to have "flown the coop", with many traders opting to sell the 3 item beyond the stipulated price limit. 2 4 Accusations of price manipulation, as well as supply shortage, have fouled the situation even further and left consumers, especially those observing Ramadan, having to bear the brunt of the price increase. 7 Checks by the New Straits Times at several markets in the Klang Valley showed that some traders were selling chicken at up to RM2 beyond the ceiling price. 9 10 A stall operator, speaking on condition of anonymity, said it wasn't his fault that he sold chicken beyond the ceiling price. 11 "Don't blame me. How are we supposed to profit when the supplier sells it to us at RM8.70 per kilogramme? How do I then sell it at RM8.90 per kg to consumers? 12 13 "There is no other way than to increase it a little. Otherwise, I will not earn anything at all. All I get at the end of the day is exhaustion from running my stall. 14 15 "If the price from the source can be reduced, then we can lower it in line with the government's ruling," he said. 16 17 18 Housewife Siti Asmah Md Shapi,37, said the upward price factor was a burden for her, especially during Ramadan, and expressed worry that it would further escalate as Hari Raya Aidilfitri nears. 19 20 "Consumers are caught in the middle," said the mother of three from Bandar Sri 21 Damansara. 22 The 68-year-old from Damansara Utama said she preferred to buy from supermarkets 23 instead of wet markets these days to save a few ringgit. 24 "Supermarkets will adhere to the government's orders for fear of being penalised and their prices are consistent and within a fixed range, sometimes a bit lower. 25 26 "People must also be smart consumers by surveying prices and avoid those who charge unreasonably." 27 84 95A 6 00
Answer the following questions based on the article above. 1. Using diagram clearly explain the concept of price ceiling. (5 marks) 2. Why are traders not able to adhere to ceiling price of chicken? (2 marks) 3. What is the ceiling price and calculate the selling price? (3 marks) 4. Line 25 says "people must also be smart consumers" (3 marks) 5. Using diagram explain the effect on price and quantity of seafood if the price of chicken keeps on increasin (5marks) 6. What is the impact on the price of chicken products with the price of chicken increases? (2 marks)
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