Business Economics Assignment Answers Help

 

Assignment Details:-

  • Topic: Assignments for MBA
  • Words Count: 1350
  • Citation/Referencing Style: MBA
  • Academic Standard Level: MBA

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1. Assume that a consumer consumes two commodities X and Y and makes five combinations for the two commodities:

 

TABLE BELOW

 

Combination Units of X Units of Y
A 25 3
B 20 5
C 16 10
D 13 18
E 11 28

 

Calculate Marginal rate of Substitution and explain the answer.

 

2. Elaborate the term Total Revenue and Marginal revenue also calculate TR and MR in the given table

 

Price Output (In Units ) Total Revenue Marginal

Revenue

20 1
18 2
16 3
14 4
12 5

 

3.a. From the given Demand Schedule for air tickets, calculate elasticity of demand.

 

Price of Air Ticket

(Per Ticket)

Quantity Demanded (Tickets per month)
1,00,000 5,000
1,20,000 3,500

 

3.b. Elaborate the term Elasticity of Supply and explain any three factors that determines elasticity of supply

 

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