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School for Continuing Education (NGA-SCE)
Course: Business Economics
Internal Assignment Applicable for December 2019 Examination
Assignment Marks: 30
1. Calculate the following: (10 Marks)
|
Quantity
|
Total Fixed Cost
|
Total Variable Cost
|
Total Cost
|
Average Cost
|
Marginal Cost
|
|
25
|
10
|
18
|
?
|
?
|
?
|
|
26
|
10
|
20
|
?
|
?
|
?
|
|
27
|
10
|
21
|
?
|
?
|
?
|
2. “Determinant of demand are the important factor
which influences the decision of the consumers to purchase commodity or a
service” With respect to the above statement discuss any 5 determinants of
the individual demand. (10 Marks)
3
a. Suppose the monthly income of an individual increases
from Rs. 10,000 to Rs. 15,000 which increases his demand for clothes from 20
units to 25 units. Calculate the income elasticity of demand and interpret the
result. (5 Marks)
b. Quantity demanded for tea has increased from 100
to 160 units with an increase in the price of the coffee powder from Rs. 40 to
Rs. 50. Calculate the cross elasticity of demand between tea and coffee and
explain the relationship between the goods. (5 Marks)
Dear students, get fully NMIMS solved assignments
by professionals
Do send your query at :
or call us at :08263069601
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