Economics CX552001: Study Material with Solved Assignments
Added on 2023-06-10
14 Pages1534 Words241 Views
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Page 1 of 14
Bachelor of Applied Management
ECONOMICS- CX552001
Bachelor of Applied Management
ECONOMICS- CX552001
Page 2 of 14
Table of contents
SECTION: A..............................................................................................................................3
Question 1..................................................................................................................................3
Question 2..................................................................................................................................5
Question 3..................................................................................................................................6
Question 4..................................................................................................................................8
SECTION: B..............................................................................................................................8
Question 1:.................................................................................................................................8
a).................................................................................................................................................8
b)................................................................................................................................................9
Question 2..................................................................................................................................9
a).................................................................................................................................................9
b)..............................................................................................................................................10
c)...............................................................................................................................................10
d)..............................................................................................................................................11
e)...............................................................................................................................................11
Question 3................................................................................................................................11
SECTION: C............................................................................................................................12
Q1)............................................................................................................................................12
Q2)............................................................................................................................................12
Q3)............................................................................................................................................12
Q4)............................................................................................................................................12
a)...............................................................................................................................................12
b)..............................................................................................................................................13
c)...............................................................................................................................................13
Reference..................................................................................................................................14
Table of contents
SECTION: A..............................................................................................................................3
Question 1..................................................................................................................................3
Question 2..................................................................................................................................5
Question 3..................................................................................................................................6
Question 4..................................................................................................................................8
SECTION: B..............................................................................................................................8
Question 1:.................................................................................................................................8
a).................................................................................................................................................8
b)................................................................................................................................................9
Question 2..................................................................................................................................9
a).................................................................................................................................................9
b)..............................................................................................................................................10
c)...............................................................................................................................................10
d)..............................................................................................................................................11
e)...............................................................................................................................................11
Question 3................................................................................................................................11
SECTION: C............................................................................................................................12
Q1)............................................................................................................................................12
Q2)............................................................................................................................................12
Q3)............................................................................................................................................12
Q4)............................................................................................................................................12
a)...............................................................................................................................................12
b)..............................................................................................................................................13
c)...............................................................................................................................................13
Reference..................................................................................................................................14
Page 3 of 14
SECTION: A
Question 1
[i]
Labour Output TFC TVC TC AC MC AVC AFC
Workers per
day
T-shirts per
day
$ per
day
$ per
day
$ per
day
0 25 0 25
4 25 25 50 12.5 6.25 6.25 6.25
10 25 50 75 7.5 4.17 5 2.5
13 25 75 100 7.69 8.33 5.77 1.92
15 25 100 125 8.33 12.5 6.67 1.67
16 25 125 150 9.38 25 7.81 1.56
[ii]
0 4 10 13 15 16
0
2
4
6
8
10
12
14
AC
AC
Output
Cost
SECTION: A
Question 1
[i]
Labour Output TFC TVC TC AC MC AVC AFC
Workers per
day
T-shirts per
day
$ per
day
$ per
day
$ per
day
0 25 0 25
4 25 25 50 12.5 6.25 6.25 6.25
10 25 50 75 7.5 4.17 5 2.5
13 25 75 100 7.69 8.33 5.77 1.92
15 25 100 125 8.33 12.5 6.67 1.67
16 25 125 150 9.38 25 7.81 1.56
[ii]
0 4 10 13 15 16
0
2
4
6
8
10
12
14
AC
AC
Output
Cost
Page 4 of 14
1 2 3 4 5
0
5
10
15
20
25
30
MC
MC
Output
Cost
1 2 3 4 5
0
1
2
3
4
5
6
7
8
9
AVC
AVC
Output
Cost
1 2 3 4 5
0
1
2
3
4
5
6
7
AFC
AFC
Output
Cost
[iii]
1 2 3 4 5
0
5
10
15
20
25
30
MC
MC
Output
Cost
1 2 3 4 5
0
1
2
3
4
5
6
7
8
9
AVC
AVC
Output
Cost
1 2 3 4 5
0
1
2
3
4
5
6
7
AFC
AFC
Output
Cost
[iii]
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