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Managerial Economics

Managerial Economics

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Published by mssharma5004

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Published by: mssharma5004 on Dec 17, 2009
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07/10/2013

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F-2,Block, Amity CampusSec-125, Nodia (UP)India 201303
ASSIGNMENTS
PROGRAM: Masters in Finance and ControlSEMESTER-I
Subject Name : ManagerialEconomicsStudy COUNTRY : BotswanaPermanent Enrollment Number (PEN) :Roll Number :Student Name : Boyce MangoleINSTRUCTIONSa)Students are required to submit all three assignment sets.ASSIGNMENTDETAILSMARSAssignment AFive Subjective Questions10Assignment BThree Subjective Questions + 10
 
Case StudyAssignment C45 Objective Questions10
b)
Total weightage given to these assignments is 30%. OR 30Marks
c)
All assignments are to be completed as typed in word/pdf.d)All questions are required to be attempted.
e)
All the three assignments are to be completed by duedates (specified from time to time) and need to besubmitted for evaluation by Amity University.
f)
The evaluated assignment marks will be made availablewithin six weeks. Thereafter, these will be destroyed atthe end of each semester.
g)
The students have to attached a scan signature in theform.Signature:_________________________Date:______17 December2009___________(
) Tick mark in front of the assignments submittedAssignment‘A’Assignment‘B’Assignment‘C’
MANAGERIAL ECONOMICSAssignment ‘A’
Q.1. what are indifference curves?
 
Answer: an indifference curve shows the ordering of preferences by a consumer i.e. itindicates the combination of two products between which the consumer is indifferent, or combination which will yield the same level of satisfaction.Explain the consumers’ equilibrium under the assumptions of ordinal approach.Answer: The consumer is in equilibrium when he maximizes his utility, given hisincome and the market prices. Two conditions must be fulfilled for the consumer tobe in equilibrium.The first condition is that the marginal rate of substitution be equal to the ratio of commodity prices. This is necessary but not sufficient condition.
MR
 x
,
 y
=
MU 
 x
MU 
 y
ffffffffffffffff
=
 P 
 x
 P 
 y
fffffff
 The second condition is that the indifference curve be convex to the origin. Thiscondition is fulfilled by the axiom of diminishing marginal rate of substitution of x for y and vice versa.Q.2. Examine the concept and relationship of Total, Average and marginal costs withthe help of suitable diagram.Answer:
Total cost
is the total expenditure incurred on the production. It connotesboth explicit and implicit money expenditure and includes fixed and variable costs.
 
=
 f X,T,
 f  
,K 
Where
=
totals cost

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