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ECO404 ALL Current Final Term Papers Spring 2016 And Past Final Term Papers at One Place from 20 August 2016 to 2 September 2016

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1. A leading textile firm of the country is considering undertaking a new investment project of children garments. Following table shows the probabilities of success and failure of project with associated utilities and outcomes.

State of nature

Probability

Monetary outcome

Associated utility

Success

0.40

25000

3

Failure

0.60

-12000

-4

 

Calculate the expected utility E(U) in two states , what would be the decision of undertaking the project if the manager is risk averse?

(Marks: 3+2)

 

2) Following diagram shows example of third degree price discrimination. A producer is charging low price from students as compared to general public.

                             

From the above diagrams indicate the followings;

  • Demand curves in both markets (Elastic or inelastic)

In public, the demand 0 when the price is $ 225. When price is $125 the demand is 20, means 20 people are buy the product at the price of $125.

In student, the price is $75 and there 40 student (demand) are purchasing the product.

  • Prices & Quantities in both markets

Prices are given from $ 25 to 225$.

  • Total output sold

Total output sold in public (20x125) = $2500. In Student market, (75x40) = $3000

                                                                                    (Marks: 1.5+1.5 + 2)

 

 

3) Differentiate between engineering technique and survival technique of estimating long run cost functions.

 

4) Minimize the cost function: C = 20L + 30K, subject to: Q = 10L0.5K0.5, when production constraint is 200 units. (Hint: Write its Lagrangian function and find the partial derivatives of this Lagrangian function with respect to L, K and l).

 

 

5) ABC manufacturing has estimated that the marginal product of the last worker (6th) employed is 40 units of output per day and the daily wage firm must pay is $10, while the marginal product of the last machine (5th) rented by the firm is 120 units of output per day and the daily rental price of the machine is $30.

Calculate

  1. I.      MRTS (slope of isoquant).
  2. II.    Ratio of prices of inputs (slope of iso cost line).
  3. Does this employment level (6 worker and 5 machines) confirms the optimal input combination for the firm?

 

 

 

6) Opportunity loss concept is used in minimax regret decision rule under risk analysis. How opportunity loss can be described?

 

 

7) Differentiate between simultaneous games and sequential games.

 

 

8) Highlight at least three data collection issues which a researcher may face while empirical estimation of cost functions.

 

 

9) Draw the isoquants if in any production process inputs are:

  1. i.                    Perfect substitutes
  2. ii.                  Perfect complements

This was on 20.08.2016. Sorry for late sharing. 

My today's eco 404 paper 

1- coubb douglas production function advantages 

2 - MES minimum efficient scale of production

3 - Opportunity loss

4 - major elements of game theory 

5 - minimax  regret and maximin decision rules 

6 - game theory under risk analysis

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