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Assignment # 01

ECONOMICS (ECO404)

 

Dear Students!

This is to inform that Assignment No. 1 will be opened on Nov 27, 2015 and due date of assignment submission will be Dec 3, 2015.

 

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.

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SEMESTER FALL 2015

MANAGERIAL ECONOMICS (ECO404)

ASSIGNMENT NO. 01

DUE DATE: Dec 3, 2015

MARKS: 15

Problem # 1:

CITROPAK is the largest producer of different fruit concentrates and specialized products in Pakistan. Prices of its Fruit Juices / Nectars are stable at Rs. 34 each. This means that P = MR = Rs 34 in this market. Engineering estimates indicate that relevant total and marginal cost relations for the CITROPAK model are;

                                             TC = 25,000 + 16Q + 0.001Q2

                                             MC = d (TC) / dQ = 16 + 0.002Q

Requirements; 1- Calculate the output level that will maximize CITROPAK’s profit.

2- Calculate this maximum profit.

(Marking scheme: 2+3)

P1-Apply condition of maximum output level of profit and output which is MR=MC 34=16+0.002Q to get maximum output(Q)

P1 To find max profit ,Profit=TR-TC ,Put value of Q=9000 in TC equation and get TC . TR can find out PXQ= 34x9000 = 306000 , So Profit= TR-TC = 306000-250000=56000

please, discuss the TC

Correct Muizz bhai

Problem # 1:
CITROPAK is the largest producer of different fruit concentrates and specialized products in Pakistan. Prices of its Fruit Juices / Nectars are stable at Rs. 34 each. This means that P = MR = Rs 34 in this market. Engineering estimates indicate that relevant total and marginal cost relations for the CITROPAK model are;
TC = 25,000 + 16Q + 0.001Q2
MC = d (TC) / dQ = 16 + 0.002Q
Requirements; 1- Calculate the output level that will maximize CITROPAK’s profit.
2- Calculate this maximum profit.

how to calculate the output level MR = MC 34 - .001Q = 16Q + .002Q= 18Q + .002Q = 18 divided by .002 = 9000

Calculate this maximum profit. TR = 34 x 9000 =306,000 =TC= 25,000 + 16Q + 0.001Q2 , TC = 25000 + 16 (9000) + 0.001(9000)2 , TC = 25000 + 144,000 + 81,000 , TC = 250,000 , Profit=TR-TC = 306,000 - 250000 = 56000


please, don,t copy paste, trying to solve with different formate

Problem # 02 

Please, Share your ans:

its my ans

Ans: t- statistic = 8.426

critical value of t at 5% level of Significance = 1.157

 

Dear all please, post your Ans; to below and help me to find the correct Ans regarding Problem#02

Please, don't consider my ans 100% and trying to solve their own way.

Asif Bhai, my t statistic ans is bit different

t = 8.4313

From where this 1.157 has been calculated. Plz guide

Shakeel Bhai
Degrees of Freedom = (n-k) = (10-2) = 8
Critical Value at 5% level = 2.306
b’ ± 2.306 (sb) = 4.23 ± 2.306 (0.52) = 4.23 ± 1.157

1 st solve the T- statistic,
and derived the value of Sb, above is an example of an other question.
yeh assignment ka Q ni ha. only example ha is ly correct ans ni ah raha.

b’ ± 2.306 (sb)
4.23± 2.306 (Sb)here give the actual value of (Sb) which is derived from t-statistic
4.23± 2.306x

hope u will understand

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