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[Solved] ECO402 Assignment 1 Fall 2020

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admin
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MICROECONOMICS (ECO402)

ASSIGNMENT # 01

DUE DATE: 10TH DECEMBER, 2020 MARKS: 15

The Case:

Breakfast is often called ‘the most important meal of the day’. As the name suggests, breakfast breaks the overnight fasting period. It replenishes your supply of glucose to boost your energy levels and alertness. It also helps to provide other essential nutrients required for good health. Breakfast can help to better weight management, reduce risk of type 2 diabetes, and heart disease in the long term. Milk, eggs, and tea are commonly used in breakfast in Pakistan. Therefore, changes in the prices of these products have a major impact on the cost of living. The information about their nominal prices and CPI from 2018 to 2020 is giver below:

 

Item

Unit

Year

Nominal Price

CPI

 

Milk

 

Liter

Jun -2018

85.00

283.97

Jun -2019

90.00

296.50

Jun -2020

97.50

322.10

 

Eggs

 

Dozen

Jun -2018

83.13

182.83

Jun -2019

79.38

172.61

Jun -2020

115.63

229.01

 

Tea

 

Packet

Jun -2018

205.26

304.69

Jun -2019

221.05

322.11

Jun -2020

242.10

350.92

 

 

Requirements:

Keeping in mind the above scenario, solve the following questions.

  1. By assuming June-2018 as the base year, find the real price of milk, eggs, and tea in each
  2. If the base year bundle has 10 liter milk, 3 dozen eggs, and 2 packets of tea then find the Laspeyres index by assuming June-2018 as the base year and June-2020 as the current

Marks: (9+6)


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admin
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ECO402 Assignment 1 Fall 2020 Solution:

 

 
 
 
 
 

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admin
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Illustrious Member Admin
Joined: 4 years ago
Posts: 6752
Topic starter  

ECO402 Assignment 1 Fall 2020 Solution:

 

 

Download attachment for ECO402 assignment 1 solution file in MS Word.


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mobeen.sheraz
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Thanks man


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