eco402 assignment 2 solution 2021. SEMESTER FALL 2020. MICROECONOMICS (ECO402). ASSIGNMENT # 02 DUE DATE: 18 TH FEBRUARY, 2021. MARKS: 15.
WAPDA such as Pakistan Water and Power Development Authority was established in1958. It is an autonomous & statutory body comes 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.)
Keeping in mind or a very important point be noted here that, the above scenario, solve the following questions. a. Calculate total revenue (TR), average revenue (AR), and marginal revenue (MR) for each quantity. 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 ? ? ?
b. Why marginal revenue is less than price (MR<P) in the case of monopoly. Marks: 3
DEADLINE: • Make sure to upload the solution file before the due date on VULMS. • Any submission made via email after the due date will not be accepted. 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 format. • You may also compose your assignment in Open Office format. • Use black and blue font colors only.
RULES FOR MARKING:
Please note that your assignment will not be marked, if: • It is submitted after the due date. • The file you uploaded does not open or is corrupt. • It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc. • It is cheated or copied from other students, internet, books, journals etc. 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.
eco402 assignment 2 solution 2021