Summer-2013 - ECON 201 [section - A] Project # a couple of Part (I) - Industry Demand Problem # 01: If the industry demand contour is D ( p ) sama dengan 100 − 0. five p, what is the inverse demand competition?

Question # 02: A great addict's demand function to get a drug is quite inelastic, but the market demand function might be quite flexible. How can this kind of be? Problem # goal: If Deb ( l ) = 12 − 2 p, what price can maximize revenue?

Question # 04: Guess that the demand curve for a very good is given by D( p) = 100 maximize revenue?

p. What price will

Query # 05: If buyer 1 gets the demand function D1( g ) = 1000 − 2 l and consumer 2 has got the demand function D 2( p ) = five-hundred − l; then what is going to be the combination demand function for an economy? Problem # 06: If the require curve is a linear function of price ( D ( s ) sama dengan a − bp ), then what will be the retail price elasticity of demand by various points of the contour? Question # 07: In the event the elasticity of demand shape for Rice is -0. 40 whatsoever prices more than the current value, we would expect that when undersirable climate reduces how big is the Rice crop. What to you suppose will happen with the total revenue of Rice makers?

Question # 08: What will happen to the total revenue with the producer with price enhance, if (i) (ii)

Ep > 1,

Ep < 1, (iii) Ep sama dengan 1 .

1 ) Ep

Query # 2009: The relationship between minor revenue and price elasticity is MR = one particular − Diagrammatically explain that what will be the value of little revenue, in the event (i)

Ep > you, (ii) Ep < one particular, (iii)

Ep = 1 .

Question # 10: How could u understand the results of income elasticity and cross price elasticity while an economist? What sort of data you perceive, if (i)

Ey > 0, (ii) Ey < 0, (iii) 0 < Ey < 1, (iv)

Ecp < 0, and Ecp > 0?

Query # eleven: If Qx = 5000 − one thousand Px + 0. 1I + 90 Py and Px = 1,

We = 20000 and Py = zero. 80 in that case:

Monday, Come july 1st 15, 2013

• • •

Determine the own-price elasticity and comment whether or not the price of x asset will be improved or lowered in order to increase the total revenue. Calculate the income firmness and explain whether back button commodity can be necessity, high-class or second-rate good. Estimate the cross-price elasticity and highlight characteristics of relationship between by and y commodities. Part (II) - Market Balance

Question # 01: Suppose that the demand contour is straight while the source curve slopes upward. If a tax is definitely imposed in this market who ends up spending it? Query # 02: Suppose that almost all consumers view red pencils and blue pencils while perfect substitutes. Suppose that the supply curve to get red pencils is upward sloping. Allow price of red pencils and green pencils be

PR and PB. What would happen if the government put a taxes only about red pencils?

Question # 03: Precisely what is the deadweight loss of a tax? Diagrammatically identify and explain that in terms of reduction to the customers, producers and gain for the government. Issue # apr: Suppose that the demand curve can be regular. If a tax is imposed who winds up paying this if supply curve is usually (i) elastic, (ii) inelastic, (iii) near to vertical, and (iv) all around horizontal? Portion (III) -- Technology Issue # 01: The Cobb-Douglas production function is given simply by f ( x1, x2 ) sama dengan Ax1 x2, It turns out a b

the sort of returns to scale on this function depends on the degree of a + b. Which values of will be associated with the different kinds of comes back to size?

a+b

Query # 02: Consider the availability function (i) f ( x1, x2 ) sama dengan Ax1 x2, (ii) f ( x1, x2 ) = Ax1 x2. What 2 a couple of 1/ a couple of 1/ four

sort of returns to scale these functions exhibit? Problem # 03: The technical rate of substitution among factors x2 and x1 is -4. If you desire to produce the same amount of result but slice your usage of x1 by simply 3 devices, how a lot more units of x2 will you need? Question # 04: Identify between the short run and long term production functions. Suppose b0 = 95,

L = 5, b1 = 0. 5, T = 12, b2 = 0. four then locate MPL, MPK, APL, APK, MRTS, elasticity of...

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