Elaborate Individual Demand Market Demand and Derived Deman

SEP 2023 Customized Assignments Contact
[email protected]
www.mbacasestudyanswers.co
m
ARAVIND 09901366442 09902787224

Micro Economics

1. Complete the hypothetical table below and explain the various stages of law of variable proportion in short run. (10 Marks)

Quantity Total
Product Average
Product Marginal
product
1 10
2 30
3 48
4 56
5 56
6 52

2. Demand and Supply plays a vital role in the market. Describe any four factors/determinants each that effects demand and supply. (10 Marks)

3. a. Explain the types of elasticity of demand. Calculate elasticity of demand for the following data. (5 Marks)

Price of Apple (Rs.) Quantity demanded (KGs)
20 100
21 96

b. Elaborate Individual Demand, Market Demand and Derived Demand and cite an example to enumerate these types of demand. (5 Marks)

SEP 2023 Customized Assignments Contact
[email protected]
www.mbacasestudyanswers.co
m
ARAVIND 09901366442 09902787224