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    Allama Iqbal Open University, Islamabad: (Department of Economics)

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    murtaza5500
    The document is a notice from Allama Iqbal Open University regarding an assignment for an introductory microeconomics course. It contains two warnings: [1] Plagiarism or hiring someone to complete assignments will result in degree/certificate penalties. [2] Submitting borrowed or stolen assignments will be penalized under the university's plagiarism policy. It then provides instructions for Assignment 1 covering units 1-5 and Assignment 2 covering units 6-9, including various microeconomics questions to be answered for a total of 100 marks across both assignments.

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    Allama Iqbal Open University, Islamabad: (Department of Economics)

    Uploaded by

    murtaza5500
    41 views2 pages
    The document is a notice from Allama Iqbal Open University regarding an assignment for an introductory microeconomics course. It contains two warnings: [1] Plagiarism or hiring someone to complete assignments will result in degree/certificate penalties. [2] Submitting borrowed or stolen assignments will be penalized under the university's plagiarism policy. It then provides instructions for Assignment 1 covering units 1-5 and Assignment 2 covering units 6-9, including various microeconomics questions to be answered for a total of 100 marks across both assignments.

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    Assignment

    Original Title

    0801

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    The document is a notice from Allama Iqbal Open University regarding an assignment for an introductory microeconomics course. It contains two warnings: [1] Plagiarism or hiring someone to complete assignments will result in degree/certificate penalties. [2] Submitting borrowed or stolen assignments will be penalized under the university's plagiarism policy. It then provides instructions for Assignment 1 covering units 1-5 and Assignment 2 covering units 6-9, including various microeconomics questions to be answered for a total of 100 marks across both assignments.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    41 views2 pages

    Allama Iqbal Open University, Islamabad: (Department of Economics)

    Uploaded by

    murtaza5500
    The document is a notice from Allama Iqbal Open University regarding an assignment for an introductory microeconomics course. It contains two warnings: [1] Plagiarism or hiring someone to complete assignments will result in degree/certificate penalties. [2] Submitting borrowed or stolen assignments will be penalized under the university's plagiarism policy. It then provides instructions for Assignment 1 covering units 1-5 and Assignment 2 covering units 6-9, including various microeconomics questions to be answered for a total of 100 marks across both assignments.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 2

    ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD

    (Department of Economics)

    WARNING
    1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING
    THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD
    OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE.
    2. SUBMITTING ASSIGNMENTS BORROWED OR STOLEN FROM
    OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN
    “AIOU PLAGIARISM POLICY”.
    Course: Introduction to Microeconomics (801) Semester: Autumn, 2017
    Level: MSc Economics Total Marks: 100
    Credit Hours: 03 Pass Marks: 40
    ASSIGNMENT No. 1
    (Units 1–5)

    Q.1 Discuss that the concept of an industry has a very useful role in economic
    theory. (20)

    Q.2 Using necessary and sufficient conditions explain consumer’s equilibrium


    mathematically. (20)

    Q.3 a) Define “elastic demand” and “inelastic demand” by using daily life
    examples. (10)

    b) Discuss the determinants of market demand. (10)

    Q.4 a) Derive an isoquant and give its properties. (10)

    b) Find the equilibrium of L and K subject to a given output: (10)


    Minimize cost: C = 40K+ 20L Subject to Q = 60 L K= 3000

    Q.5 Explain the following terms with examples:

    i) Long-run and Short-run (05)

    ii) Fixed and Variable cost (05)

    iii) Average and Marginal cost (05)

    iv) Economies and Diseconomies of scale (05)

    1
    ASSIGNMENT No. 2
    (Units 6–9)
    Total Marks: 100 Pass Marks: 40

    Q.1 Suppose the demand for Frisbees is given by (05+05+10)

    Q= 100-2P

    And the supply by

    Q= 20-6P

    a) What will be the equilibrium price and quantities for Frisbees?

    b) Suppose the government levies a tax of Rs: 4 per freebies. Now what will the
    equilibrium quantity, the price consumers will pay, and the price firms will
    receive?

    c) How would your answers to parts (a) and (b) change if the supply were
    instead Q= 70+ P

    Q.2 a) Explain the circumstances that give rise to monopoly. (10)

    b) Explain Multiplant Monopolist’s equilibrium (10)

    Q.3 a) Explain theory of monopolistic competition in its historical perspective. (10)

    b) In what way the assumptions of monopolistic competition differ from


    assumptions of those of perfectively competitive model? (10)

    Q.4 Explain Stackleberg’s model of Duopoly, is it an extension of Cournot model? (20)

    Q.5 What do you know about the direct and indirect effects of the decision taken by
    the firms? Explain your answer in the light of Chamberlin’s oligopoly model. (20)

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