ECO401 Assignment No 1, Fall 2014,Solutions and Discussions Due Date: Nov-27, 2014
Important announcement, Assignment # 01 ECONOMICS (ECO401)
This is to inform that Assignment No. 1 will be opened on November 20, 2014 and due date of assignment submission will be November 27, 2014.
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thank you but still i cant find it anywhere in handouts (related material to the assignment)
Solution for Part B (a) (for discussion only, may be wrong)
% of Price Changed = (200-150)/150= 0.333
% change in Qd (Business Travelers) = (2800-2900)/2900= -0.0345
So PEd for Business Travelrs = -0.0345/0.333 = -0.1035
% change in Qd (Tourist) = (1000-1800)/1800= -0.4444
So PEd for Tourists = -0.4444/0.333 = -1.333
with all due respect
i think ur answer is wrong plzzz re check it
please explain a little
correct answer I believe, Q2/part(a) @ hafeez ur Rehman
please expand the formula a little because i have confusion in that . thank you
values put kr dain bs
Price elasticity of demend
Take derivative of demand function
At equilibrium P=1.5, Q=1400
P€d= dQd/dPxP/Q = -400X1.5/1400 = -0.428
Similarly you can find P€s by taking derivative of supply function
Ye Question 1 ka part b ka answer ka tariqa ha na??
Yes it is given in handouts on page no 30,31
Ye price elasticity ka formula tu nhi ha . . ye tu point elastic city ka hai . . ??