SEMESTER FALL 2019IMPORTANT:
DUE DATE: JANUARY 21, 2020 MARKS: 15
Apple is an American international Tech brand that designs, manufactures, and deals in hardware devices and software. It includes number of hardware products like iPad tablet computer, smart speaker, the Apple Watch but iPhone smartphone is highly demanded product around the globe. Apple has autonomy in production and price setting of its products. Apple is famous for its scope of variety in quality products and earning high revenues. Suppose total revenue (TR) and total cost (TC) functions of Apple are following.
TR = 100Q – 1.5Q2 TC = 30 + 15Q Requirements:
a. CalculateprofitmaximizingoutputlevelofAppleusingmarginalrevenue(MR) and marginal cost (MC) approach.
b. Find out the amount of profit earned by Apple at profit maximizing level of output calculated in part a.
c. Find out average revenue (AR) function and slope of average revenue (AR) function.
(Marks: Part a:5, Part b: 5, Part 2.5+2.5)
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Total Marks 5
Starting Date Friday, November 15, 2019
Closing Date Thursday, November 21, 2019
Question Title Government’s Role in Price Determination & Equilibrium Analysis
Governments get involved in agricultural output markets to stabilize prices of agricultural goods so that producers get reasonable prices. Pakistan’s agriculture sector recorded a slow growth rate of 0.85 percent during the last fiscal year (2018-19). It’s very important to enhance agricultural production to increase farmers’ income, imports reduction and to expand export base of the country. The National Agriculture Emergency Program plans to spend Rs.290 billion in the next five years to boost the sector. The program will be implemented with the coordination of all provinces to improve productivity of major crops i.e. wheat, sugarcane, cotton, rice etc.
Being student of economics identify appropriate price policy measure which government can opt to motivate the farmers and increase agricultural productivity. Logically discuss how the identified price policy will boost the agricultural production.
Quiz 3 Total Questions : 10
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