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GET SOLVED ASSIGNMENTS
VISIT WWW.MBASOLVEDASIGNMENT.COM
Or Mail us at Projectreports94@gmail.com
AKANSHA – 09773820734 (WHATSAPP )
Internal Assignment Applicable for September 2018 Examination
SEMESTER 1
Business Economics
1. Define the term “Elasticity of demand.” Discuss different types of elasticity of demand. Also explain why this concept should be of interest to anyone in business who has a choice to determine the price at which to sell their products. (10 Marks).

2. Find below the data for total production costs of a manufacturing firm at various levels of output. Complete the blank table and comment on each column of the table explaining the behavior of short run costs of a firm. (10 Marks)
Output Total cost Fixed cost Variable cost Average fixed cost Average variable cost Average cost
0 1000
20 1200
40 1300
60 1380
100 1600
200 2300
300 3200
400 4300
500 5650
1000 13,650

3. a) Large scale production is considered to be economical in the sense of per unit cost.
Explain the statement by describing different types of economies of scale. Give
examples to substantiate your answer (5 Marks)
3. b) Under perfect competition, a firm’s average revenue and marginal revenue are equal
at all levels of output” Explain the statement by giving a hypothetical revenue table.
(5 Marks)
GET SOLVED ASSIGNMENTS
VISIT WWW.MBASOLVEDASIGNMENT.COM
Or Mail us at Projectreports94@gmail.com
AKANSHA – 09773820734 (WHATSAPP )        

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Registered on October 4, 2017

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India, Chhattisgarh, BhilaiCharoda
Chattisgarh

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liamg@49stropertcejorp.com
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