ECO402 Assignment 2 Fall 2021 – Assignments – Solution VU

Check also: Today Telenor Answer

ECO402 Assignment 2 Fall 2021 – Assignments – Solution VU

MICROECONOMICS (ECO402)

ASSIGNMENT # 02

DUE DATE: 18TH  FEBRUARY, 2021   MARKS: 15

 

The Case:

Pakistan Water and Power Development Authority (WAPDA) was established in 1958. It is an autonomous and statutory body under the administrative control of the Federal Government. WAPDA has a monopoly on producing electricity. The generation, transmission, and distribution of power is the responsibility of the WAPDA. In 2019-20, the total installed capacity of electricity was 36200 MW. Suppose that the amount of electricity for a household and its price are given below:

 

Q (units)

P (Rs.)

225

11

300

10

350

9

400

8

 

Requirements:

Keeping in mind the above scenario, solve the following questions.

 

  1. Calculate total revenue (TR), average revenue (AR), and marginal revenue (MR) for each Marks: 12 (4+4+4) Note: Calculate TR, AR, and MR in table form.

 

Q (units)

P (Rs.)

TR

AR

MR

225

11

?

?

?

300

10

?

?

?

350

9

?

?

?

400

8

?

?

?

 

  1. Why marginal revenue is less than price (MR<P) in the case of monopoly. Marks: 3

 

 

IMPORTANT:

24 hours extra / grace period after the due date is usually available to overcome uploading difficulties. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.

IMPORTANT INSTRUCTIONS DEADLINE:

  • Make sure to upload the solution file before the due date on
  • Any submission made via email after the due date will not be

FORMATTING GUIDELINES:

  • Use the font style “Times New Roman” or “Arial” and font size “12”.
  • It is advised to compose your document in MS-Word
    • You may also compose your assignment in Open Office
    • Use black and blue font colors

RULES FOR MARKING:

Please note that your assignment will not be marked, if:

  • It is submitted after the due
  • The file you uploaded does not open or is
  • It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF
  • It is cheated or copied from other students, internet, books, journals

Note related to load shedding: Please be proactive Dear students!

As you know that Pre Mid-Term semester activities have started and load shedding problem is also prevailing in our country. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your

 

convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.

This topic was modified 41 mins ago by admin

Students kindly share assignment files in relevant subject timely for discussion/solution.
or directly share with us ” Click here
QueryVU Telegram Groups subject wise Join Now
QueryVU WhatsApp groups subject wise Join Now

vulearning

#ECO402 #Assignment #Fall #Assignments #Query

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Your AIOU Assignments Marks NOWClick Here