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SEMESTER FALL 2019
IMPORTANT:
ECONOMICS (ECO401)
ASSIGNMENT
DUE DATE: JANUARY 21, 2020 MARKS: 15
ASSIGNMENT:
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)24 hours extra / grace period after the due date is usually available to overcome uploading difficulties. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.
Dear students!
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Total Marks 5
Starting Date Friday, November 15, 2019
Closing Date Thursday, November 21, 2019
Status Open
Question Title Government’s Role in Price Determination & Equilibrium Analysis
Question DescriptionCASE:
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.
Requirement:
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.
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Quiz 3 Total Questions : 10
Please read the following instructions carefully!
Quiz will be based upon Multiple Choice Questions (MCQs).You have to attempt the quiz online. You can start attempting the quiz any time within given date(s) of a particular subject by clicking the link for Quiz in VULMS.
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If any student failed to attempt the quiz in given time then no re-take or offline quiz will be held.
SOLVED ECO401 GDB 1 Solution and Discussion
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Total Marks 5
Starting Date Friday, November 15, 2019
Closing Date Thursday, November 21, 2019
Status Open
Question Title Government’s Role in Price Determination & Equilibrium Analysis
Question DescriptionCASE:
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.
Requirement:
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.
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Four types of market structure
Monopolistic competition
Oligopoly
Monopoly
Perfect competition
In our case there is a perfect competition because so many sellers having identical or same products. Which are characteristics of perfect competition.Recommended:
Pure or perfect competition is a theoretical market structure in which the following criteria are met: all firms sell an identical product (the product is a “commodity” or “homogeneous”); all firms are price takers (they cannot influence the market price of their product); market share has no influence on price; buyers have complete or “perfect” information – in the past, present and future – about the product being sold and the prices charged by each firm; resources such a labor are perfectly mobile; and firms can enter or exit the market without cost.Note: - We are not responsible for any mistake, this is for your idea or help, need to verify yourself.
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