University : NMIMS Global Access School For Continuing Education NGA-SCE UniLearnO is not sponsored or endorsed by this college or university.
Country : India
Assignment Task

 

1. What is Indifference Curve, explain with the help of diagram and also explain its properties.

2. Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity?

3.a. Two goods have a cross-price elasticity of demand of +1.2 (a) would you describe the goods as substitutes or complements? (b) If the price of one of the goods rises by 5 percent, what will happen to the demand for the other good, holding other factors constant?

3.b. Calculate Marginal Utility and Average Utility from the information given in the below table: 
Quantity Consumed Total Utility
1 20
2 35
3 47
4 55
5 60

 

This Economics Assignment has been solved by our Economics experts at UniLearnO. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.

  • Uploaded By : Brett
  • Posted on : December 09th, 2019
  • Downloads : 181

Whatsapp Tap to ChatGet instant assistance