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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.

 

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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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