ENGINEERING & MANAGERIAL ECONOMICS (EHU-501)

Name of the Faculty : MANUJ DARBARI

ASSIGNMENT I

1	Explain meaning, nature &scope of economics.
2	What do understand by demand analysis?
3	What is the meaning and significance of demand forecasting?
4	Differentiate between measurement of National Income of closed economy and open economy.
5	Explain the relationship between science, engineering & economics with suitable example.

ASSIGNMENT II

What do you mean by demand forecasting? Discuss the objectives you would suggest for your firm.

What do you understand by laws of return to scale?

Which decision-making criteria would you like to consider when there are uncertainties in the business environment? Give reasons in support of your answer.

Suppose the price elasticity of demand for text books is 2 and the price of text books increases by 10%, by how much does the quantity demanded fall? Infer the results and discuss the reasons for the fall in quantity demanded.

Estimate the expected demand for a firm for the year 2012 when you have the following data:

Year	Total demand in Thousand Units
2007	25
2008	39
2009	46
2010	44
2011	50

ASSIGNMENT III

1	Explain the concept of elasticity, MR, TR and the relationship among the three. Illustrate with help of an example.
2	What do you understand by ‘Consumer Equilibrium’? How does price change in particular commodity affect the consumer behaviour?
3	Explain the difference between long run average cost and short run average cost.
4	Distinguish between Pure & Perfect Competition.
5	Is price higher and output smaller under monopoly? Compare these under perfect competition.

ASSIGNMENT IV

1	Explain the concept of Duopoly Sorbent of price determination and various market conditions.
2	“Imperfect competition is the competitive situation in any market” – justify.
3	Explain the concept run equilibrium with respect to i) MC<MR ii) MC>MR iii) MC=MR
4	Mathematically prove that TC = TFC + TVC.
5	Derive the relationship between: i) ATC, AFC & AVC ii) ATC & AVC

ASSIGNMENT V

1	Explain the nature and causes of inflation.
2	What do you understand by GDP & GNP.
3	What are the various phases of business cycle.
4	What is the meaning of money? Explain its utility.
5	Explain the correlation between economic fluctuations and unemployment.