Course Name: MICROECONOMICS<\/p>\n
Student\u2019s Name:<\/p>\n
Course Code: ECON101<\/p>\n
Student\u2019s ID Number:<\/p>\n
Semester: 1st<\/p>\n
CRN: 12971<\/p>\n
Academic Year: 1442-1443 H<\/p>\n
College of Administrative and Financial Sciences<\/p>\n
Assignment 3<\/p>\n
College of Administrative and Financial Sciences<\/p>\n
Assignment 3Release Date: November 21, 2021 Deadline: November 30, 2021 @23:59pm<\/p>\n
For Instructor\u2019s Use only <\/p>\n
Instructor\u2019s Name: Dr. Samreen Akhtar<\/p>\n
Students\u2019 Grade: \/ 05<\/p>\n
Level of Marks: High\/Middle\/Low<\/p>\n
PLEASE READ THEM CAREFULLY<\/p>\n
This assignment is an individual assignment.<\/p>\n
Due date for Assignment 3 is 30\/11\/2021).<\/p>\n
The Assignment must be submitted only in WORD format via allocated folder.<\/p>\n
Assignments submitted through email will not be accepted.<\/p>\n
Students are advised to make their work clear and well presented. This also includes filling your information on the cover page.<\/p>\n
Students must mention question number clearly in their answer.<\/p>\n
Late submitted assignments will NOT be entertained.<\/p>\n
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.<\/p>\n
All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). Submissions without this cover page will NOT be accepted.<\/p>\n
Assignment 3 Maximum Marks-05 <\/p>\n
Question 1:<\/p>\n
A monopoly occurs when there are barriers entering the market. List 3 types of these barriers with explanation and example. (1 Mark)<\/p>\n
Fill the following table for a monopolist firm. (1 Mark)<\/p>\n
Marginal revenue<\/p>\n
Total revenue<\/p>\n
Output<\/p>\n
Price<\/p>\n
0<\/p>\n
$100<\/p>\n
1<\/p>\n
$85<\/p>\n
2<\/p>\n
$70<\/p>\n
3<\/p>\n
$55<\/p>\n
4<\/p>\n
$40<\/p>\n
5<\/p>\n
$25<\/p>\n
Draw the demand curve and the marginal revenue curve for the above table. And explain the relationship between the marginal revenue and the price. (1 Mark) <\/p>\n
Question 2.<\/p>\n
Explain the effects of low price-guarantee on the price. (1 Mark)<\/p>\n
Give reasons, when average cost increases as the total output increases for an increasing cost industry. (1 Mark)<\/p>\n","protected":false},"excerpt":{"rendered":"
Course Name: MICROECONOMICS Student\u2019s Name: Course Code: ECON101 Student\u2019s ID Number: Semester: 1st CRN: 12971 Academic Year: 1442-1443 H College of Administrative and Financial Sciences Assignment 3 College of Administrative and Financial Sciences Assignment 3Release Date: November 21, 2021 Deadline: November 30, 2021 @23:59pm For Instructor\u2019s Use only Instructor\u2019s Name: Dr. Samreen Akhtar Students\u2019 Grade: […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[10],"class_list":["post-78817","post","type-post","status-publish","format-standard","hentry","category-research-paper-writing","tag-writing"],"_links":{"self":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/78817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/comments?post=78817"}],"version-history":[{"count":0,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/78817\/revisions"}],"wp:attachment":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/media?parent=78817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/categories?post=78817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/tags?post=78817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}