Scribd
Upload
28 views

Admas Universiy: Workouts, Interpretation and Discussion Question

Microeconomics worksheet

Uploaded by

Melaku
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
28 views

Admas Universiy: Workouts, Interpretation and Discussion Question

Microeconomics worksheet

Uploaded by

Melaku
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

ADMAS UNIVERSIY

School of Post graduate Studies


Group Assignment
Prepared by Semeneh Bessie (PhD), Associate Professor of Economics
May 2022
Workouts, Interpretation and Discussion question (20 Mark)
1. What is the income elasticity of car as per capital income increases from, $10,000 to
$11,000? The demand for car as a function of income per capital is given by the equation.
Q= 50,000 +5(y).
2. The demand for a Laptop in Adama is estimated to be Q D= 250,000 –35P if this
relationship remains approximately valid in the future. What is the point price elasticity
of demand at price of $2000? Interpret your result.
3. Suppose Y company estimates the following total cost function from cost output data:
TC = $135,000 + $250Q + $1.5Q2. Find the optimum level of output that makes the
company efficient and per unit cost (AC) at the rate of output.
4. A monopolist's demand function is given by P = 80 – 4Q. The firm's total cost is given by
TC = 10Q + Q2
A. What is the profit-maximizing price and quantity?
B. How much economic profit can the firm earn? (Hint: TR = PQ)

5. Given the following demand function Q = 20 – 0.10p where p = price and Q = rate of
output,
A, Complete the following table

Quantity Price Total Revenue Average Revenue Marginal Revenue


1
2
3
4
5

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy