NMIMS June 2020 assignments: Contact us for answers at assignmentssolution@gmail.com

NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Business Economics
Internal Assignment Applicable for June 2020 Examination
Assignment Marks: 30

1. The concept of elasticity for demand is importance for determining the prices of various
factors of production. Discuss the various factors that influences the price elasticity of
demand (10 Marks)

2. Complete the hypothetical table below and explain in brief, the behaviour of each type
of cost. (10 Marks)

Quantity	Total Fixed Cost	Total Variable Cost	Total Cost	Average Fixed Cost	Average Variable Cost	Average Total Costa	Marginal Cost
0	0
1	25
2	40
3	50
4	60
5	100	80
6	110
7	150
8	300
9	500
10	900

3. Demand forecasting in an organisations plays a vital role in business organisations
It provides reasonable data for the organization's capital investment and expansion
decision.
a. Keeping the above statement in consideration. Discuss the various steps involved in
demand forecasting (5 Marks)
b. Discuss the various needs for demand forecasting in business organisations? (5 Marks)
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