3.

The companys revenue will increase because the price change a bit but the quantity of demanded will increase a lot. Because the quantity of demanded increase so the companys revenue will increase also. 4. Students might receive price discounts relative to the rest of the population because the students still study and they does not working so their market power is low. Example: K-box have the special price for the student. For normal price is RM15 but students only need to pay RM10. Even though the student price is lower than normal price, but at least can attract the students to purchase it when the office hours. 5. If Malaysia Airlines (MAS) offer cheaper fights, the market of Air Asia (AA) will be greatly influenced. Assuming that MAS still maintain its flight services after reducing its airfares. I believe a lot of people will prefer to take MAS, because they can get the better services but in lower costs. In conclusion, the demand for Air Asia will decrease.