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Showing posts with label ECO401. Show all posts
Showing posts with label ECO401. Show all posts

ECO401 ASSIGNMENT NO 01 Solution Fall 2016

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ECO401 ASSIGNMENT NO 01 Fall 2016

Here is the Solution of ECO401 – Economics - Assignment No. 1. This is to inform that Assignment No. 1 has been opened due date of assignment submission will be NOVEMBER 21, 2016. 

Download ECO401 Assignment#01 Solution

EC0_401_SOLUTION.doc

ECO-401_Solution.DOCX

A 24 hours extra/grace period after the due date is usually available to overcome uploading difficulties which may be faced by the students on last date. This extra time should only be used to meet the emergencies; and above mentioned due date should always be treated as final to avoid any inconvenience.

Also Read: Pak301 Assignment No 1 Solution Fall 2016

ECO401 ASSIGNMENT NO 01

ECONOMICS (ECO401) ASSIGNMENT NO. 01
DUE DATE: NOVEMBER 21, 2016
MARKS: 20

The Case:

Uber Technologies Inc. is an American worldwide online transportation network company
whose headquarter is in San Francisco, California. This company was established in 2009. It developed markets over 66 countries and 507 cities all over the world. Those people who have cars can register with this company and can earn money. Services of this company are also beneficial for the consumers because fare is very low. This company also started services in Pakistan in March 2016. Uber service demand is increasing day by day and car holders are also getting registration. Suppose the Uber Company in Pakistan is facing the following demand and supply functions:
Qd = 4000-4P
Qs= 1000+P
Where ‘P’ is the price of fare per ride and ‘Qd’ is quantity demanded in terms of number of cars
demanded by consumers. ‘Qs’ is number of cars offered by company.

Also Read: CS607 Assignment No 01 Solution Fall 2016

ECO401 Assignment Requirements:


  1. Find equilibrium price and equilibrium quantity of cars. Also show equilibrium condition with the help of graph.
  2. Calculate price elasticity of demand using point elasticity method when the company is in equilibrium and interpret the result.
  3. What will be the effect on the equilibrium situation of the company if fuel prices increase remarkably in the market? Illustrate graphically.
(Marks: a: 2+2+3, b: 5+3, c: 5)

ECO401 ASSIGNMENT IMPORTANT Note:

24 hours extra / grace period after the due date are 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.

Also Read: CS506 Assignment no 1 Solution Fall 2016

ECO401 ASSIGNMENT IMPORTANT INSTRUCTIONS:

ASSIGNMENT DEADLINE:
  • Make sure to upload the solution file before the due date on VULMS.
  • Any submission made via email after the due date will not be accepted.
ASSIGNMENT FORMATTING GUIDELINES:
Use the font style “Times New Roman” or “Arial” and font size “12”.
It is advised to compose your document in MS-Word format.
You may also compose your assignment in Open Office format.
Use black and blue font colors only.

ECO401 ASSIGNMENT RULES FOR MARKING

Please note that your assignment will not be graded or graded as Zero (0), if:
  • It is submitted after the due date.
  • The file you uploaded does not open or is corrupt.
  • It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.
  • It is cheated or copied from other students, internet, books, journals etc.
  • Note related to load shedding: Please be proactive


Dear students! As you know that Pre Mid-Term semester activities have started and load shedding problem is also prevailing in our country. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.

Download ECO401 Assignment

Fall 2016_ECO401_1.pdf, 170 KB

ECO401 ASSIGNMENT NO 01 Solution 

Here is the Solution of ECO401 Assignment Fall 2016

ECO-401 Assignment Question no 1 Solution

Find equilibrium price and equilibrium quantity of cars. Also show equilibrium condition with the help of graph. 

Solution: 

Qd= 4000-4P
Qs= 1000+P
Solution:
Qd = Qs
So ,
4000 - 4P = 1000 + P
4000-1000 = 4P + P
3000 = 5P
P = 3000/5
P = 600
Now
Qd = 4000 -4(600)
= 4000 - 2400
= 1600
and
Qs = 1000 + 600
= 1600
So
Equilibrium Price is 600
Equilibrium quantity is 1600

ECO-401 Assignment Question no 2 Solution

Calculate price elasticity of demand using point elasticity method when the company is in equilibrium and interpret the result.

Solution:
Here is an example demand curve: Q = 4,000 - 4P
Given this demand curve we have to figure out what the point price elasticity of demand is at P = 600 and P = 60.
First we need to obtain the derivative of the demand function when it's expressed with Q as a function of P. Since quantity goes down by 4 each time price goes up by 1,
This gives us (ΔQ/ΔP)= -4
Now
= (-4) X (600/1600)
= -1.5
And these results make sense, first, because they are negative (downward sloping demand) and second, because the higher level results in a relatively more price elasticity of demand measure

ECO-401 Assignment Question no 3 Solution

What will be the effect on the equilibrium situation of the company if fuel prices increase remarkably in the market? Illustrate graphically. 

Solution:
Upward shifts in the supply and demand curves affect the equilibrium price and quantity. If the supply curve shifts upward, meaning supply decreases but demand holds steady, the equilibrium price increases but the quantity.

Download ECO401 Assignment#01 Solution

EC0_401_SOLUTION.doc

ECO-401_Solution.DOCX

ECO401 All Past Solved Mid Term Papers

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ECO401 Solved Mid Term Past Papers:

ECO401 All Past Solved Mid Term Papers File.
See the attached file please
ECO401+Solved+Mid+Term+Papers.pdf ECO401+Solved+Mid+Term+Papers.pdf, 2.9 MB 
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ECO401 Solved MCQs Mega Collection for Mid Term Papers

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ECO401 Solved MCQs Mega Collection

We upload the ECO401 Solved MCQs Mega Collection for Mid/Final Term Papers
and Upcoming Quiz. Try to solved the ECO401 Solved MCQs Mega
Collection for Mid/Final Term Papers and Upcoming Quiz yourself for better
Preparation of mid term papers.

ECO401 Question no 1

A partial explanation for the inverse relationship between price and
quantity demanded is that a:
► Lower price shifts the supply curve to the left.
► Higher price shifts the demand curve to the left.
► Lower price shifts the demand curve to the right.
► Higher price reduces the real incomes of buyers.

ECO401  Question no 2

The total utility curve for a risk neutral person will be:
► Straight line.
► Convex.
► Concave.
► None of the given options.

ECO401 Question no 3

A welfare loss occurs in monopoly where:
► The price is greater than the marginal cost.
► The price is greater than the marginal benefit.
► The price is greater than the average revenue.
► The price is greater than the marginal revenue.

ECO401 Question no 4

Which of the following is NOT a factor of production?
► Labour.
► Land.
► Capital.
► Investment.

ECO401 Question no 5

Which of the following does NOT refer to macroeconomics?
► The study of the aggregate level of economic activity.
► The study of the economic behavior of individual decision-making
units such as consumers, resource owners, and business firms.
► The study of the cause of unemployment.
► The study of the cause of inflation.

ECO401 Question no 6

Demand is elastic when the elasticity of demand is:
► Greater than 0 but less than 1.
► Greater than 1.
► Less than 0.
► Equal to 1.

ECO401 Question no 7

An individual whose attitude towards risk is known as:
►Risk averse.
► Risk loving.
► Risk neutral.
► None of the given options.

ECO401 Question no 8

The concept of a risk premium applies to a person that is:
► All of the given options.
►Risk averse.
► Risk neutral.
► Risk loving.

ECO401 Question no 9

An individual whose attitude towards risk is known as:
►Risk averse.
► Risk loving.
► Risk neutral.
► None of the given options.

ECO401 - Economics Lecture No. 05 Problems Discussions and Solutions

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Post your problems and questions about current lecture in reply of this discussion so we can give you answers and solve problems, also share important points of this lecture so others can get help also.
Discussions provide best solutions.
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Post your problems and questions about current lecture in reply of this discussion so we can give you answers and solve problems, also share important points of this lecture so others can get help also.
Discussions provide best solutions.
Regards,

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Post your problems and questions about current lecture in reply of this discussion so we can give you answers and solve problems, also share important points of this lecture so others can get help also.

Discussions provide best solutions.

Regards:

Virtual University


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ECO401 - Economics Online Quiz

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Eco 401 lectures short questions and answer

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Eco 401 1~22 lectures short questions and answer


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