Elaborate the term Total Revenue and Marginal revenue also calculate TR and MR in the given table

Rs. 250

Description

NMIMS Solutions June 2022
Contact us: - Prakash
Call: - +919741410271
Email: - [email protected]

Business Economics

1. Assume that a consumer consumes two commodities X and Y and makes five combinations
for the two commodities:
TABLE BELOW
Combination Units of X Units of Y
A 25 3
B 20 5
C 16 10
D 13 18
E 11 28

Calculate Marginal rate of Substitution and explain the answer.

2. Elaborate the term Total Revenue and Marginal revenue also calculate TR and MR in the given table
Price Output (In Units) Total Revenue Marginal Revenue
20 1
18 2
16 3
14 4
12 5

3.a. From the given Demand Schedule for air tickets, calculate elasticity of demand.
Price of Air Ticket (Per Ticket) Quantity Demanded (Tickets per month)
1,00,000 5,000
1,20,000 3,500

3.b. Elaborate the term Elasticity of Supply and explain any three factors that determines elasticity of supply.

NMIMS Solutions June 2022
Contact us: - Prakash
Call: - +919741410271
Email: - [email protected]


Decision Science

2. Rashmi Dhar, manufacturer, and seller of ‘Kashmiri- kahwa’ through E-commers websites.
She wanted to know the effect of her spending in advertisement of ‘Kahwa’ on the sales, along with the other factors; ‘number of sales representatives’, ‘customer-satisfaction ratings’. For this research she has gathered the sales data in the following table, along with other necessary information.
Part 1) Define dependent and independent variables
Part 2) Write regression model equation only.
Part 3) Run regression analysis in EXCEL (copy all those tables from EXCEL and paste them in your document).
Part 4) Write the Interpretation of Regression statistics-table, ANOVA- table.
Write an interpretation (by referring P-value/ t-stat) on significant effect of independent variables on sales.
Region/
Districts Sales of Kahwa (in INR) Spending in advertise (in INR) Number of sales Representatives (person) Customer-satisfaction ratings (1=highly dissatisfied to 5 = highly satisfied
Kupwara 55328 5512 1 1
Badgam 56251 8337 1 1
Leh-ladakh 57126 8788 4 1
Kargil 58739 8828 5 1
Punch 66984 9050 5 2
Rajouri 70676 10150 7 2
Kathua 73206 11236 8 2
Baramula 80571 12538 8 3
Bandipore 93168 13161 8 3
Srinagar 99432 13448 9 4

NMIMS Solutions June 2022
Contact us: - Prakash
Call: - +919741410271
Email: - [email protected]

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