NMIMS
Global Access
School for Continuing Education (NGA-SCE)
Course: Business Economics
Internal Assignment Applicable for December 2019 Examination
1. Calculate the following: (10 Marks)
School for Continuing Education (NGA-SCE)
Course: Business Economics
Internal Assignment Applicable for December 2019 Examination
1. Calculate the following: (10 Marks)
|
Quantity
|
Total Fixed
|
Total Variable
|
Total
|
Average
|
Marginal
|
|
Cost
|
Cost
|
Cost
|
Cost
|
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)
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)
**********
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)
**********
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