College of Administrative and Financial Sciences
Assignment-2
Deadline: 17/11/2020 @ 23:59
Course Name: Microeconomics
Student’s Name:
Course Code: ECON101
Student’s ID Number:
Semester: I
CRN:
Academic Year: 1441/1442 H
Instructions – PLEASE READ THEM CAREFULLY
· The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
· Assignments submitted through email will not be accepted.
· Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
· Students must mention question number clearly in their answer.
· Late submission will NOT be accepted.
· 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.
· 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. Assignment Questions Maximum Marks-05 1) Consider the long-run production of Bicycles. The cost of the indivisible inputs used in the production of bicycles is $6000 per day. To produce one Bicycle per day, the firm must also spend a total of $80 on other inputs-labor, materials, and other capital. For each additional bicycle, the firm incurs the same additional cost of $80. a) Compute the average cost for 30 bicycles, 60 bicycles, 100 bicycles, and 300 bicycles. (1 marks) b) Draw the long-run average cost curve for 30,60,100 and 300 bicycles per day. (1 marks) 2) Draw a graph of perfectly competitive market and explain equilibrium of the firm by choosing output level at which a. P=MC=MR and Firm is making zero economic profit (1 Mark) b. P=MC=MR and Firm is making a loss (1 Mark) c. Explain shut down rule with the help of graph (1 Mark) Answer:
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Any deadline
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Adherence to paper instructions
Ability to tackle bulk assignments
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Get superb grades consistently
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1. Place an order
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
2. Pay for the order
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
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You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
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The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
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