# Business economics nmims mba solved assignments 2017

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22-Jan-2018

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1. 1. Dear students to get solved assignmentsof NMIMS MBA call us at 8510092683 or mail us at Course: Business Economics Q1. Calculate the following: Quantity Total fixed cost Total variable cost Total cost Average cost Marginal cost 10 10 15 ? ? ? 11 10 18 ? ? ? 12 10 21 ? ? ? 13 10 24 ? ? ? 2. Determine the market equilibrium price for the following demand and supply equation: D = 9p + 6 S = 10p 5 Determine the equilibriumquantity if price is the same as above D = 3p 3q S = 8q 3p 3. Calculate the following: a) Assume that a business firm sells a product at the price of 500. The firm has decided to reduce the price of the product to 350. Consequently, the demand for the product is raised from 30,000 units to 35,000 units. In this case calculate the price elasticity of demand. (5 Marks) b) Suppose the monthly income of an individual increases from 6,000 to 11,000. Now, his demand for clothes increases from 30 units to 60 units. Calculate the income elasticity of demand. Dear students to get solved assignmentsof NMIMS MBA call us at 8510092683 or mail us at