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  • ECO101 Assignment

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    Ariful Islam
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    The document contains three graphs showing the demand and supply curves for wheat, Bangladesh cricket team's jersey, and brown rice. It also includes calculations for percentage changes in price and quantity for two groups and a table showing the total cost, total fixed cost, total variable cost, marginal cost, average fixed cost, average variable cost, and average total cost for quantities from 0 to 6 units.

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    The document contains three graphs showing the demand and supply curves for wheat, Bangladesh cricket team's jersey, and brown rice. It also includes calculations for percentage changes in price and quantity for two groups and a table showing the total cost, total fixed cost, total variable cost, marginal cost, average fixed cost, average variable cost, and average total cost for quantities from 0 to 6 units.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    11 views2 pages

    ECO101 Assignment

    Uploaded by

    Ariful Islam
    The document contains three graphs showing the demand and supply curves for wheat, Bangladesh cricket team's jersey, and brown rice. It also includes calculations for percentage changes in price and quantity for two groups and a table showing the total cost, total fixed cost, total variable cost, marginal cost, average fixed cost, average variable cost, and average total cost for quantities from 0 to 6 units.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    1.

    a)

    S2
    Price D S1

    S2
    S1 D

    Quantity

    Wheat

    b)

    D2 S2
    Price D1 S1
    X2

    S2 D2
    S1 D1

    Quantity

    Bangladesh cricket team’s jersey

    c)
    S2
    D1
    Price S1
    D2
    X2 X1

    S2 D1

    S1
    D2

    Quantity

    Brown rice

    2. Percentage change in price = 10%


    Percentage change in quantity (Group A) = (1.65 + 1.55) / 1.6 = 2%
    Percentage change in quantity (Group B) = (1.7 + 1.5) / 1.6 = 2%

    Therefore, PED for Group A & B = 2 / 10 = 0.2

    4.
    Quantity TC TFC TVC MC AFC AVC ATC

    0 $5 $5 - - -

    1 $10 $5 $5 $5 $5 $5 $10

    2 $13 $5 $8 $3 $2.5 $4 $6.5

    3 $18 $5 $13 $5 $1.67 $4.33 $6

    4 $25 $5 $20 $7 $1.25 $5 $6.25

    5 $34 $5 $29 $9 $1 $5.8 $6.8

    6 $45 $5 $40 $11 $0.83 $6.67 $7.5

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