This document provides a detailed solution to a microeconomics assignment from the Principles of Economics course (TECO401), Term 1 2019. The assignment covers topics such as profit maximization in perfectly competitive markets, marginal revenue and marginal cost analysis, consumer surplus calculation, and the impact of supply and demand shifts on market equilibrium. Specific questions address the profit-maximizing output level for a pizza firm, the determination of price and quantity in a market with given demand and cost functions, the graphical representation of demand and supply shifts for ACER laptops, and the analysis of comparative advantage between Kim and Liam in pie and cake production. Additionally, the solution touches upon advertising strategies and dominant strategies in game theory. The document provides step-by-step explanations, calculations, and graphical illustrations to aid in understanding the underlying economic principles.