We have been working very hard since 2009 to facilitate in learning Read More. We can't keep up without your support. Donate.

www.bit.ly/vucodes

+ Link For Assignments, GDBs & Online Quizzes Solution

www.bit.ly/papersvu

+ Link For Past Papers, Solved MCQs, Short Notes & More

ECO402 Microeconomics Assignment No 01 Spring 2019 Solution & Discussion Due Date: 22-05-2019

ECO402 Microeconomics Assignment No 01 Spring 2019 Solution & Discussion Due Date: 22-05-2019

The Case:
Dates (Khajur) are commonly used at the time of Iftar in the month of Ramadan. Dates
are the perfect diet to break the fast as it activates the body to take in the inflow of food,
by helping to secrete digestive juices. Dates are full of carbohydrates and fiber. The
demand of dates increases in the month of Ramadan, which in turn increases the price
of dates.
Suppose the initial demand and supply equations of dates are given as follows:
Qs = 240 + 0.30P
Qd =300 - 0.20P
In the month of Ramadan, let the demand equation of dates is:
Qd =320 - 0.10P
Requirement:
a) Find the market clearing level of quantity and price of dates before demand change.
b) Find the market clearing level of quantity and price of dates after demand change.
c) Find out the price elasticity of demand of dates at initial equilibrium price and quantity
and interpret the results.
Marks: (3+3+4)


+ http://bit.ly/vucodes (Link for Assignments, GDBs & Online Quizzes Solution)

+ http://bit.ly/papersvu (Link for Past Papers, Solved MCQs, Short Notes & More)

+ Click Here to Search (Looking For something at vustudents.ning.com?)

+ Click Here To Join (Our facebook study Group)


Views: 1226

Attachments:

Replies to This Discussion

Please Discuss here about this assignment.Thanks

Our main purpose here discussion not just Solution

We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions. Read More>>

Discussed & be touched with this discussion. After discussion a perfect solution will come in a result at the end.

 

“How to Join Subject Study Groups & Get Helping Material”

 

P.S:    Please always try to add the discussion in proper format title like “CS101 Assignment / GDB No 01 Solution & Discussion Due Date: ___________”

 

Share below link with friends for solution & Discussion.

http://bit.ly/vucodes

Any one please share solution

No photo description available.

Dates (Khajur) are commonly used at the time of Iftar in the month of Ramadan. Dates
are the perfect diet to break the fast as it activates the body to take in the inflow of food,
by helping to secrete digestive juices. Dates are full of carbohydrates and fiber. The
demand of dates increases in the month of Ramadan, which in turn increases the price
of dates.
Suppose the initial demand and supply equations of dates are given as follows:
Qs = 240 + 0.30P
Qd =300 - 0.20P
In the month of Ramadan, let the demand equation of dates is:
Qd =320 - 0.10P
Requirement:
a) Find the market clearing level of quantity and price of dates before demand change.
b) Find the market clearing level of quantity and price of dates after demand change.
c) Find out the price elasticity of demand of dates at initial equilibrium price and quantity
and interpret the results.

ECO402 Microeconomics Assignment No 01 Spring 2019 Solution

Attachments:

One more idea solution 

ECO402_Microecnomics_Assignment#1 Solution

Attachments:

(a) Market clearing level of quantity and price of dates before demand change:(a) Market clearing level of quantity and price of dates before demand change:Market clearing level equation:    Qs=Qd  240+0.30P=300-0.20P0.30P+0.20P=300-2400.5P=60P=60÷0.5P=120Q=240+(0.30P)(120) =276 (b)  Market clearing level of quantity and price of dates after demand change:Qs=Qd 240+0.30P=320-0.10P0.03P+0.10P=320-2400.4P=80P=80÷0.4=200Q=240+(0.30p)(200) =300 (C) Price Elasticity of demand of dates at initial Equilibrium price and quantity: Price Elasticity of demand of Dates is                    =                            =       (-0.20)                   =       -.087 ( inelastic)
Interpretation of the above result:Price Elasticity of Demand measures the sensitivity of quantity demanded to price changes. It measures the percentage change in the quantity demanded for a good or services that result from a one percent change in the price of that good or services.1) Because of the inverse relationship between P and Q; EP is negative.2) If IEPI < 1, the percent change in quantity is less than the percentChange in price. We can say that demand is price inelastic.

+ M.Tariq Malik 



thanx tooo        much 

ECO402 Assignment Solution Spring 2019

Attachments:

RSS

Looking For Something? Search Below

Latest Activity

★彡[ꜱʜʏɴᴀ]彡★ liked + ! ! hคຖiค khคຖ ! ! ! +'s discussion 'Ghar Se Hum Ghar Talak Gaye Honge, Apne Hee Aap Tak Gaye Honge',
5 hours ago
+ ! ! hคຖiค khคຖ ! ! ! + liked + M.Tariq Malik's discussion Free Download Solved MCQs of Pakistan Affairs - Everyday Science - Current Affairs For MCQs for CSS, NTS, FTS, ETEA, OTS, UTS, FPSC, PPSC, SPSC, PMS, PSC, KPKPSC, AJKPSC, SOPE Exam
6 hours ago
+ ! ! hคຖiค khคຖ ! ! ! + liked + ! ! hคຖiค khคຖ ! ! ! +'s discussion 'Ghar Se Hum Ghar Talak Gaye Honge, Apne Hee Aap Tak Gaye Honge',
6 hours ago
+ ! ! hคຖiค khคຖ ! ! ! + posted a discussion
6 hours ago
VU AHMED replied to + M.Tariq Malik's discussion PHY301 Fall 2017 Final Term Papers Pattern & Questions 17 Feb 2018 to 28 Feb 2018 & Helping Material in the group PHY301 Circuit Theory
6 hours ago
+ ! ! hคຖiค khคຖ ! ! ! + updated their profile
6 hours ago
+ M.Tariq Malik liked + + + + " Tw!nkle "'s discussion Happy HAppy birthday !! FIYA
8 hours ago
+ M.Tariq Malik replied to + M.Tariq Malik's discussion EDU410 Teaching of Literacy Skills Assignment 01 Fall 2020 Solution / Discussion in the group EDU410 Teaching of Literacy Skills
8 hours ago
+ M.Tariq Malik replied to + M.Tariq Malik's discussion EDU410 Teaching of Literacy Skills Assignment 01 Fall 2020 Solution / Discussion in the group EDU410 Teaching of Literacy Skills
8 hours ago
+ M.Tariq Malik liked + M.Tariq Malik's discussion EDU410 Teaching of Literacy Skills Assignment 01 Fall 2020 Solution / Discussion
8 hours ago
+ M.Tariq Malik added a discussion to the group EDU410 Teaching of Literacy Skills
8 hours ago
+ M.Tariq Malik replied to + M.Tariq Malik's discussion BIF401 Bioinformatics I GDB Fall 2020 Solution / Discussion in the group BIF401 Bioinformatics I
8 hours ago

© 2021   Created by + M.Tariq Malik.   Powered by

Promote Us  |  Report an Issue  |  Privacy Policy  |  Terms of Service

.