Business Economics NMIMS Solution June 19

 500

Description

Business Economics

Buy complete semester assignment semester from this nmims Semester Wise Assignment link.

Note: You have to edit 10-20% before submission for avoid copy case.

NMIMS Assignment Question

1. “In the monopolistic competition, a few firms sell differentiated products” Explain this statement by highlighting important features of this kind of a market. Substantiate your answer by a live example. Also explain how the equilibrium in this kind of a market is different from a long run equilibrium under perfect competition.

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

 

QuantityTotal

fixed cost

Total

variable cost

Total

 cost

Average

fixed cost

Average

variable cost

Average

 total cost

Marginal

cost

0 0     
1 25     
2 40     
3 50     
4 60     
510080     
6 110     
7 150     
8 300     
9 500     
10 900     

3. a) What are the practical uses of the concept of price elasticity of demand for different stakeholders in the production process?
b) Distinguish between the shift and movement in the demand curve. Explain any five factors which would bring about a shift in the demand curve for Maggie noodles.

.woocommerce-message { background-color: #98C391 !important; }