Virtual Study Solutions: ECO401 ASSIGNMENT NO 01 Solution

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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 />
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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;"><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>
<span style="font-family: "trebuchet ms" , sans-serif;"><br />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.</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 />
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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>
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<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>
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(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;"><br /></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 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

ECO401 ASSIGNMENT NO 01 Fall 2016 Here is the Solution of ECO401 – Economics - Assignment No. 1 . This is to inform that Assignment No....

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ECO401 ASSIGNMENT NO 01 Solution Fall 2016

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