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ECO404 Managerial Economics Assignment No. 2 Solution Fall 2015 Due Date February 09, 2016

ECO404 Managerial Economics Assignment No. 2 Solution Fall 2015 Due Date February 09, 2016

ECO404 - Managerial Economics Assignment No. 2 Solution Fall 2015 Due Date February 09, 2016

 SEMESTER FALL 2015

MANAGERIAL ECONOMICS (ECO404)

ASSIGNMENT NO. 02

DUE DATE:

Feb 9, 2016

 

 

MARKS: 15

 

 

PROBLEM # 1:

 

 

 

Maximize Profit (ð) = 14X + 9Y

Subject to the following constraints:

4X + 2Y + SA = 30

 

1X + 1Y + SB = 20

 

3Y + SC = 31

 

The corner points are given as:

 

 

Corner points  X  Y

 

 

 

 

A

6  0

B

5  2

C

3  4

D

0  6

From all this information, algebraically solve the linear programming problem  while finding the profit (Rs.) level at each point. Also indicate profit maximizing corner point.  (Marks: 4 + 1)

 

 

 

 

PROBLEM # 2:

The Water and Power Development Authority (WAPDA) has recently published the following estimates of demand and supply relations for electricity:

 

 

Q

D = 70,000 - 20,000P 

Q

S = 30,000P

 Calculate the perfectly competitive industry equilibrium price/output combination.
  1. b.                    Assume that the industry output is organized into a cartel. Calculate the industry

price/output combination that will maximize profits for cartel members. (Note: As a cartel, industry MR=P=3.5 - 0.0001Q and MC=P=0.00003Q)

(Marks: 2.5 + 2.5)

 

 

 

PROBLEM # 3:

Following diagram shows the short run price and output determination under monopoly.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

From the above diagram indicate profit maximizing output level, market price and average

cost at that level..

(Marks: 2 + 3)

 

 

 

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Replies to This Discussion

kindly post the complete solution of all questions.

thanks

adeel baig sb kindly send complete solution of all three problems

Yes please all are waiting.

aik to economics smj nahi ati or phir yhan pur double minded. pehly yahan pur or solution tha . ab zarwa ny change soultion show kurwaya hy

 kon sa solution theek hy. koi btay gaaaaaaaaaaa????????????/ i think zarwa ka soultion is best according to handouts???

Thanks Zarwa

According to handout page 151 to shakeel Bhai ka solution theek lg rha hy. Zrwa k solution ki Problem 1 samjh nhin aa rhi .. 2 se multiply keun kia ?

Prblem 2 mein P=1.4 kysy aaya ??

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