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[Solved] ECO401 Assignment 1 Solution & Discussion Fall 2019  

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admin
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15/01/2020 7:45 pm  

ECO401 Economics Assignment 1 Solution & Discussion Fall 2019


ECONOMICS (ECO401)
ASSIGNMENT

 

DUE DATE: JANUARY 21, 2020          MARKS: 15

 

ASSIGNMENT:

Apple is an American international Tech brand that designs, manufactures, and deals in hardware devices and software. It includes number of hardware products like iPad tablet computer, smart speaker, the Apple Watch but iPhone smartphone is highly demanded product around the globe. Apple has autonomy in production and price setting of its products. Apple is famous for its scope of variety in quality products and earning high revenues. Suppose total revenue (TR) and total cost (TC) functions of Apple are following.

TR = 100Q – 1.5Q2 TC = 30 + 15Q

Requirements:

a.       Calculate profit maximizing output level of Apple using marginal revenue (MR) and marginal cost (MC) approach.

b.       Find out the amount of profit earned by Apple at profit maximizing level of output calculated in part a.

c.       Find out average revenue (AR) function and slope of average revenue (AR) function.

 

(Marks: Part a:5, Part b: 5, Part c: 2.5+2.5)

 

 

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admin
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15/01/2020 7:46 pm  

ECO401 Economics Assignment 1 Solution & Discussion Fall 2019


 

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admin
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19/01/2020 1:01 pm  

ECO401 Economics Assignment 1 Solution & Discussion Fall 2019


 

 

Download attachment for Solution file of ECO401.

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