Ms 09-2011
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This document contains an assignment for a managerial economics course. It includes 5 questions related to key economic concepts: 1) Calculating total profit, average profit, and marginal profit from a profit function table and explaining the differences between incrementalism and marginalism. 2) Defining price elasticity and explaining the determinants of price elasticity. 3) Substantiating the difference between how economists and accountants view fixed costs using an example. 4) Discussing the effect of changes in demand on price and quantity with reference to market pricing analysis and illustrations. 5) Writing short notes on market experiments, bundling of services, and product differentiation.
Ms 09-2011
- 1. MS-09 Management Programme ASSIGNMENT FIRST SEMESTER 2011 MS-09: MANAGERIAL ECONOMICS School of Management Studies INDIRA GANDHI NATIONAL OPEN UNIVERSITY MAIDAN GARHI, NEW DELHI – 110 068
- 2. ASSIGNMENT Course Code : MS-9 Course Title : Managerial Economics Assignment Code : 9/TMA/SEM-I/2011 Coverage : All Blocks Note: Assignments Solved by www.distpub.com 1. Given the profit function of a firm in the form of table, calculate total profit, average profit and marginal profit and differentiate between incrementalism and marginalism. Unit of Total Total Total Average Marginal Output Revenue Cost Profit Profit Profit 1 10 5 2 30 18 3 50 29 4 70 38 2. Define Price Elasticity. Explain the determinants of Price Elasticity. 3. ‘To an economist the fixed costs are overhead costs and to an accountant these are indirect costs.’ Substantiate this statement with the help of an example. 4. What effect does change in demand have on price and quantity? Discuss with reference to pricing analysis of markets by giving illustrations. 5. Write short notes on the following :- a) Market Experiments b) Bundling of services c) Product Differentiation