Virtual Study Solutions: ECO401 ASSIGNMENT

ECO401 Assignment No 1 Solution Spring 2018

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<span style="font-family: "verdana" , sans-serif;">ECO401 Assignment No 1 Spring 2018</span></h3>
<span style="font-family: Verdana, sans-serif;">Dear Students, Here you can read or Download <b>ECO401</b> -  <u>Economics </u><b>Assignment No 1 Solution</b> and Discussion of Semester <b>Spring 2018</b>. Assignment Due Date is 21 MAY, 2018. Total Marks are 10. We are here to facilitate your learning and we do not appreciate the idea of copying or replicating solutions. <b>ECO401 Assignment Solution</b> File has been added. Previously we shared <a href="https://virtualstudysolutions.blogspot.com/2013/12/eco401-solved-mcqs-mega-collection-for.html">ECO401 Solved MCQs Mega Collection for Mid Term Papers</a>.</span><div>
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<span style="font-family: Verdana, sans-serif;">ECO401 Assignment Deadline:</span></h4>
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<ul style="text-align: left;">
<li><span style="font-family: Verdana, sans-serif;">Make sure to upload the solution file before the due date on VULMS. </span></li>
<li><span style="font-family: Verdana, sans-serif;">Any submission made via email after the due date will not be accepted.</span> </li>
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<span style="font-family: Verdana, sans-serif;">Recommended : <a href="https://virtualstudysolutions.blogspot.com/2015/11/eco401-all-past-solved-mid-term-papers.html">ECO401 All Past Solved Mid Term Papers</a></span><h4 style="text-align: left;">
<span style="font-family: Verdana, sans-serif;">ECO401 Assignment Formatting Guidelines:</span></h4>
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<ul style="text-align: left;">
<li><span style="font-family: Verdana, sans-serif;">Use the font style “Times New Roman” or “Arial” and font size “12”. </span></li>
<li><span style="font-family: Verdana, sans-serif;">It is advised to compose your document in MS-Word format. </span></li>
<li><span style="font-family: Verdana, sans-serif;">You may also compose your assignment in Open Office format. </span></li>
<li><span style="font-family: Verdana, sans-serif;">Use black and blue font colors only.</span> </li>
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<span style="font-family: Verdana, sans-serif;">ECO401 Assignment Rules for Marking:</span></h4>
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<span style="font-family: Verdana, sans-serif;">Please note that your assignment will not be marked, if: </span></div>
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<ul style="text-align: left;">
<li><span style="font-family: Verdana, sans-serif;">It is submitted after the due date. </span></li>
<li><span style="font-family: Verdana, sans-serif;">The file you uploaded does not open or is corrupt. </span></li>
<li><span style="font-family: Verdana, sans-serif;">It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc. </span></li>
<li><span style="font-family: Verdana, sans-serif;">It is cheated or copied from other students, internet, books, journals etc.</span></li>
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<span style="font-family: Verdana, sans-serif;"><b>Recommended</b> : <a href="https://virtualstudysolutions.blogspot.com/2017/06/all-eco-subjects-mid-term-past-papers.html">All ECO Subjects Mid Term Past Papers Collection</a></span></div>
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<span style="font-family: "verdana" , sans-serif;">Assignment Question:</span></h3>
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<span style="font-family: verdana, sans-serif;"><b>The Case:</b></span><br />
<span style="font-family: Verdana, sans-serif;"><br />Agriculture is an important sector of Pakistan's economy. This sector directly supports the country's population and accounts for 26 percent of gross domestic product (GDP). The major agricultural crops include cotton, wheat, rice, sugarcane, fruits and vegetables. The annual sugarcane output has averaged around 74m tones in the last four years, according to the economic survey. As a result, the average production of sugar between 2013-14 and 2016-17 remained well above 5.7m tones. Further, the average wheat output has remained above 25.6m tones in the last four years compared to generously estimated national average consumption of 24m tones, according to the economic survey of Pakistan. Suppose the wheat and sugarcane is facing the following demand functions:</span><div style="text-align: left;">
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<ul style="text-align: left;">
<li><span style="font-family: Verdana, sans-serif;">Demand function for wheat crop:</span></li>
<li><span style="font-family: Verdana, sans-serif;">Demand function for sugarcane crop:</span></li>
</ul>
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<span style="font-family: Verdana, sans-serif;"><b><u>Requirements:</u></b><br /><br /><b>1.</b> Calculate price elasticity of demand of agricultural products using point elasticity method for wheat crop and sugarcane crop in the following cases:<br /><ul style="text-align: left;">
<li>If market price of wheat is Rs.1300 per ton.</li>
<li>If market price of sugarcane is Rs. 180 per ton.</li>
</ul>
(Note: You are required to use given demand function and market price for calculation of price elasticity of demand of each product)<br /><br /><b>2.</b> Suppose government gives subsidy to the producers of agricultural sector, explain with reason how it will impact the supply and price of the agricultural products in domestic market. (Graph is not required)<br />(Marks: 1: 4+4, 2: 2)</span></div>
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<span style="font-family: "verdana" , sans-serif;">ECO401 Assignment No 1 Solution Spring 2018</span></h3>
<span style="font-family: "verdana" , sans-serif;">You can see the Sample Preview of <u>ECO401 Assignment No 1 Solution</u> provided by (<a href="https://virtualstudysolutions.blogspot.com/">Virtual Study Solutions</a>) below. Click on Download Button to Download Solution File in Your PC. Please Share it with your friends. You can also like our Facebook Page or Subscribe Us below for Updates.</span></div>
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<span style="font-family: Verdana, sans-serif;"><b>Other Subjects Assignment Solution:</b></span><br />
<span style="font-family: Verdana, sans-serif;"><ul style="text-align: left;">
<li><a href="https://virtualstudysolutions.blogspot.com/2018/05/cs402-assignment-no-2-solution-spring-2018.html">CS402 Assignment No 2 Solution Spring 2018</a></li>
<li><a href="https://virtualstudysolutions.blogspot.com/2018/05/cs302-assignment-no-2-solution-spring-2018.html">CS302 Assignment no 2 Solution Spring 2018</a></li>
<li><a href="https://virtualstudysolutions.blogspot.com/2018/05/mcm301-assignment-no-1-solution-spring-2018.html">MCM301 Assignment no 1 Solution Spring 2018</a></li>
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ECO401 Assignment No 1 Solution Spring 2018

ECO401 Assignment No 1 Spring 2018 Dear Students, Here you can read or Download ECO401 - Economics Assignment No 1 Solution and Discus...

ECO401 Assignment No 1 Solution Fall 2017

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<span style="font-family: Verdana, sans-serif;">ECO401 Assignment No 1 Fall 2017</span></h3>
<span style="font-family: Verdana, sans-serif;">Dear Students, <b>ECO401 </b><b>Assignment Solution</b> has been added. Here you can read or Download </span><span style="font-family: Verdana, sans-serif;"><u>ECO401</u></span><span style="font-family: Verdana, sans-serif;"><u> </u></span><span style="font-family: Verdana, sans-serif;">- Economics </span><span style="font-family: Verdana, sans-serif;"><u>Assignment No 1 Solution</u> and Discussion of Semester <b>Fall 2017</b>. Assignment Due Date is 20 November, 2017. Total Marks are 10. We are here to facilitate your learning and we do not appreciate the idea of copying or replicating solutions. Previously we share <a href="http://virtualstudysolutions.blogspot.com/2015/06/eco401-midterm-solved-papers-mcqs-mega.html">ECO401 Midterm Solved papers MCQs Mega Collection</a>.</span><div>
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<span style="font-family: Verdana, sans-serif;">ECO401 Assignment Deadline</span></h3>
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<span style="font-family: Verdana, sans-serif;">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.</span><h3 style="text-align: left;">
<span style="font-family: Verdana, sans-serif;">ECO401 Assignment Formatting Guidelines</span></h3>
<div>
<span style="font-family: Verdana, sans-serif;">Use the font style “Times New Roman” or “Arial” and font size “12”.<br />It is advised to compose your document in MS-Word format.<br />You may also compose your assignment in Open Office format. Use black and blue font colors only.</span><h3 style="text-align: left;">
<span style="font-family: Verdana, sans-serif;">ECO401 Assignment Rules for Marking</span></h3>
<div>
<span style="font-family: Verdana, sans-serif;">Please note that your assignment will not be graded or graded as Zero (0), if:<br /><ul style="text-align: left;">
<li>It is submitted after the due date.</li>
<li>The file you uploaded does not open or is corrupt.</li>
<li>It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.</li>
<li>It is cheated or copied from other students, internet, books, journals etc.</li>
</ul>
<b>Note related to load shedding</b>: <span style="color: red;">Please be proactive</span></span><h3 style="text-align: left;">
<span style="font-family: Verdana, sans-serif;">ECO401 Assignment Questions</span></h3>
<span style="font-family: Verdana, sans-serif;"><b>The Case</b>: Tomato is second most popular vegetable after potato with 124.75 million tons of production. It is a necessary part of diet because it is useful in raw form as well as in cooked form. Tomato is a main source of vitamin A, B and C with 20% share in daily usage, and it also provides other nutritional elements like potassium, calcium, fiber and iron. Presence of Lycopene made it useful against cancer. In Pakistan, monthly per capita tomato consumption was 0.39 kg and 0.42 kg for rural and urban people, respectively. In recent month, the price of tomato showed a spike due to several reasons such as reduction in import from India and less production in Pakistan.<br /><br /><b>Suppose the demand and initial supply equations of tomato are given as follows:</b><br />Qs = 34 + 0.25P<br /><br />Qd =88 – 0.05P<br /><br /><b>Due to the above mentioned supply shock (reduction in import from India and less production in Pakistan), the supply equation changed as follows:</b><br />Qs = 22 +0.25P</span><h3 style="text-align: left;">
<span style="font-family: Verdana, sans-serif;">ECO401 Assignment Requirement:</span></h3>
<span style="font-family: Verdana, sans-serif;"><ol style="text-align: left;">
<li>Find the equilibrium quantity and equilibrium price of tomato before supply change.</li>
<li>Find the equilibrium quantity and equilibrium price of tomato after supply change.</li>
<li>If the price announced by market committee is P = Rs. 140 per kg then how much amount of shortage or surplus would occur after the supply shock? Marks: (4+4+2)</li>
</ol>
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<span style="font-family: Verdana, sans-serif;">ECO401 Assignment No 1 Solution Fall 2017</span></h4>
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<span style="font-family: Verdana, sans-serif;">You can see the Sample File Preview of ECO401 Assignment No 1 Solution below you can also download solution file in .docx format from the Download Button.</span><h4 style="text-align: left;">
<span style="font-family: Verdana, sans-serif;">ECO401 Assignment Solution Sample Preview</span></h4>
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ECO401 Assignment Solution Download Link</span></h4>
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ECO401 Assignment No 1 Solution Fall 2017

ECO401 Assignment No 1 Fall 2017 Dear Students, ECO401 Assignment Solution has been added. Here you can read or Download ECO401 - Ec...

ECO401 ASSIGNMENT NO 01 Solution Fall 2016

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<span style="font-family: "trebuchet ms" , sans-serif;">ECO401 ASSIGNMENT NO 01 Fall 2016</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">Here is the <b>Solution</b> of <b>ECO401</b> – Economics - <b>Assignment No. 1</b>. This is to inform that Assignment No. 1 has been opened due date of assignment submission will be NOVEMBER 21, 2016. </span><br />
<h4 style="text-align: left;">
<span style="font-family: Trebuchet MS, sans-serif;">Download ECO401 Assignment#01 Solution</span></h4>
<span style="font-family: Trebuchet MS, sans-serif;"><a href="http://api.ning.com/files/3QCA0XbBBMwrotjIgjxecWfKrlJlreZQJK-ftGEuJRBWRGVQU-3dY4zv8YOMw2beB*GF5PmCqagc2O23go3fCbnhesvv99Mp/EC0_401SOLUTION.doc" rel="nofollow" target="_blank">EC0_401_SOLUTION.doc</a><br /><br /><a href="http://api.ning.com/files/3QCA0XbBBMyOt20uEI0hytausVLK7VGmxu*29nhHnH*p5voatxoMyvYn9tTUdD0eMgJtXBi3ypnrAoJiEZn6LBSouNqZZtZL/ECO401_Solution.DOCX" rel="nofollow" target="_blank">ECO-401_Solution.DOCX</a></span><div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Also Read: <a href="http://virtualstudysolutions.blogspot.com/2016/11/pak301-assignment-no-1-solution-fall.html">Pak301 Assignment No 1 Solution Fall 2016</a></span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">ECO401 ASSIGNMENT NO 01</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;"><b>ECONOMICS (ECO401) ASSIGNMENT NO. 01</b></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><b>DUE DATE: NOVEMBER 21, 2016</b></span><span style="font-family: "trebuchet ms" , sans-serif;"><b><br />MARKS: 20</b></span><br />
<h3 style="text-align: left;">
The Case:</h3>
<span style="font-family: "trebuchet ms" , sans-serif;">Uber Technologies Inc. is an American worldwide online transportation network company<br />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:</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Qd = 4000-4P<br />Qs= 1000+P</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Where ‘P’ is the price of fare per ride and ‘Qd’ is quantity demanded in terms of number of cars<br />demanded by consumers. ‘Qs’ is number of cars offered by company.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Also Read: <a href="http://virtualstudysolutions.blogspot.com/2016/11/cs607-assignment-no-01-solution-fall.html">CS607 Assignment No 01 Solution Fall 2016</a></span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">ECO401 Assignment Requirements:</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;"></span><br />
<ol style="text-align: left;"><span style="font-family: "trebuchet ms" , sans-serif;">
<li>Find equilibrium price and equilibrium quantity of cars. Also show equilibrium condition with the help of graph.</li>
<li>Calculate price elasticity of demand using point elasticity method when the company is in equilibrium and interpret the result.</li>
<li>What will be the effect on the equilibrium situation of the company if fuel prices increase remarkably in the market? Illustrate graphically.</li>
</span></ol>
<span style="font-family: "trebuchet ms" , sans-serif;">
(Marks: a: 2+2+3, b: 5+3, c: 5)</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">ECO401 ASSIGNMENT IMPORTANT Note:</span></h3>
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<span style="font-family: "trebuchet ms" , sans-serif;">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.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Also Read: <a href="http://virtualstudysolutions.blogspot.com/2016/11/cs506-assignment-no-1-solution-fall-2016.html">CS506 Assignment no 1 Solution Fall 2016</a></span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">ECO401 ASSIGNMENT IMPORTANT INSTRUCTIONS:</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;"><b>ASSIGNMENT DEADLINE:</b></span><br />
<ul style="text-align: left;"><span style="font-family: "trebuchet ms" , sans-serif;">
<li>Make sure to upload the solution file before the due date on VULMS.</li>
<li>Any submission made via email after the due date will not be accepted.</li>
</span></ul>
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<b>ASSIGNMENT FORMATTING GUIDELINES:</b><br />Use the font style “Times New Roman” or “Arial” and font size “12”.<br />It is advised to compose your document in MS-Word format.<br />You may also compose your assignment in Open Office format.<br />Use black and blue font colors only.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">ECO401 ASSIGNMENT RULES FOR MARKING</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">Please note that your assignment will not be graded or graded as Zero (0), if:</span><br />
<ul style="text-align: left;"><span style="font-family: "trebuchet ms" , sans-serif;">
<li>It is submitted after the due date.</li>
<li>The file you uploaded does not open or is corrupt.</li>
<li>It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.</li>
<li>It is cheated or copied from other students, internet, books, journals etc.</li>
<li>Note related to load shedding: Please be proactive</li>
</span></ul>
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</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">Also Read: <a href="http://virtualstudysolutions.blogspot.com/2016/11/cs605-assignment-no-01-solution-fall-2016.html">CS605 Assignment No 01 Solution Fall 2016</a></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;"><a href="http://virtualstudysolutions.blogspot.com/2016/11/cs605-assignment-no-01-solution-fall-2016.html" style="background-color: #e1efa0; margin: 0px; padding: 0px; text-decoration: none; transition: color 0.15s linear;" target="_top"><span style="color: black;"><br /></span></a>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.</span></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Download ECO401 </span><span style="font-family: "trebuchet ms" , sans-serif;">Assignment</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;"><a href="http://vustudents.ning.com/group/eco401economics/forum/attachment/download?id=3783342%3AUploadedFile%3A5663538">Fall 2016_ECO401_1.pdf</a>, 170 KB</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: x-large;">ECO401 ASSIGNMENT NO 01 Solution </span></h4>
<span style="font-family: "trebuchet ms" , sans-serif;">Here is the Solution of ECO401 Assignment Fall 2016</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">ECO-401 Assignment Question no 1 Solution</span></h4>
<span style="font-family: "trebuchet ms" , sans-serif;">Find equilibrium price and equilibrium quantity of cars. Also show equilibrium condition with the help of graph. </span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;"><b>Solution: </b></span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;"><br />Qd= 4000-4P <br />Qs= 1000+P <br />Solution: <br />Qd = Qs <br />So ,<br />4000 - 4P = 1000 + P <br />4000-1000 = 4P + P <br />3000 = 5P <br />P = 3000/5 <br />P = 600 <br />Now <br />Qd = 4000 -4(600) <br />= 4000 - 2400 <br />= 1600 <br />and<br />Qs = 1000 + 600 <br />= 1600 <br />So <br />Equilibrium Price is 600 <br />Equilibrium quantity is 1600 </span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">ECO-401 Assignment Question no 2 Solution</span></h4>
<span style="font-family: "trebuchet ms" , sans-serif;">Calculate price elasticity of demand using point elasticity method when the company is in equilibrium and interpret the result.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><b>Solution:</b></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Here is an example demand curve: Q = 4,000 - 4P <br />Given this demand curve we have to figure out what the point price elasticity of demand is at P = 600 and P = 60. <br />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, <br />This gives us (ΔQ/ΔP)= -4 <br />Now <br />= (-4) X (600/1600) <br />= -1.5 <br />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 </span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">ECO-401 Assignment Question no 3 Solution</span></h4>
<span style="font-family: "trebuchet ms" , sans-serif;">What will be the effect on the equilibrium situation of the company if fuel prices increase remarkably in the market? Illustrate graphically. </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><b>Solution:</b><br />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.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Download ECO401 Assignment#01 Solution</span></h4>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: Trebuchet MS, sans-serif;"><a href="http://api.ning.com/files/3QCA0XbBBMwrotjIgjxecWfKrlJlreZQJK-ftGEuJRBWRGVQU-3dY4zv8YOMw2beB*GF5PmCqagc2O23go3fCbnhesvv99Mp/EC0_401SOLUTION.doc" rel="nofollow" target="_blank">EC0_401_SOLUTION.doc</a><br /><br /><a href="http://api.ning.com/files/3QCA0XbBBMyOt20uEI0hytausVLK7VGmxu*29nhHnH*p5voatxoMyvYn9tTUdD0eMgJtXBi3ypnrAoJiEZn6LBSouNqZZtZL/ECO401_Solution.DOCX" rel="nofollow" target="_blank">ECO-401_Solution.DOCX</a></span></span></div>
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ECO401 ASSIGNMENT NO 01 Solution Fall 2016

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