Category: Macro Economics

(All answers in Chapter 4)
Short questions:
Define “Utility Maximization” and discuss the two limitations of utility maximization with examples.
What is the first-order function for a maximum utility? Draw a graph demonstrating utility Maximization and explain underlying concepts.
Explain the Lump Sum Principle, give an example of it, and draw the related graph.
Discuss the three properties of expenditure functions.
Problems:
On a given morning, Tom enjoys the consumption of cake (c) and bread (b) according to the following function:
U (c, b) = 20c- c² + 18b-3b²
How many pieces of cakes and breads does he consume during a morning? (Cost is no object to Tom)

(All answers in Chapter 4)

Short questions:
Define “Utility Maximization” and discuss the two limitations of utility maximization with examples.

What is the first-order function for a maximum utility? Draw a graph demonstrating utility Maximization and explain underlying concepts.

Explain the Lump Sum Principle, give an example of it, and draw the related graph.

Discuss the three properties of expenditure functions.

Problems:

On a given morning, Tom enjoys the consumption of cake (c) and bread (b) according to the following function:

U (c, b) = 20c- c² + 18b-3b²

How many pieces of cakes and breads does he consume during a morning? (Cost is no object to Tom)

The Assignment must be submitted on Blackboard (WORD format only) via the allocated folder.
The due date for Assignment 1 is 28/10/2023.
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 in your information on the cover page.
Students must mention the question number clearly in their answers.
Late submissions 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 answers 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 1 Questions: Week 4, 5 & 6
Q1: Illustrate an example of your choice and discuss consumer surplus, producer surplus, Total surplus, and deadweight loss with the help of the graphs. [2.5 Marks]
Q2: Calculate the consumer surplus, producer surplus, and total surplus in a market of airplane tickets if the Equilibrium price per ticket is SAR 160, the equilibrium Quantity is 80 tickets, the upper intercept of the demand curve on the y-axis is SAR 400 and lower intercept of the supply curve on the y-axis is zero. What will be the dead weight loss if the government imposes a tax of SAR 80 per ticket and the buyer and sellers share the tax of 50 percent each? [2.5 Marks]
Q3: What do you mean by import tariff and import quota? Take an example and discuss the difference between tariffs and quotas with the help of graphs. [2.5 Marks]
Q4: Provide the equation to calculate the GDP of a nation. Explain all four factors that contribute to the GDP calculation in detail. [2.5 Marks]

Assignment 2 Questions: Week 4, 5 & 6
Q1: Illustrate an example of your choice and discuss consumer surplus, producer surplus, Total surplus, and deadweight loss with the help of the graphs.[2.5 Marks]
Q2: Calculate the consumer surplus, producer surplus, and total surplus in a market of airplane tickets if the Equilibrium price per ticket is SAR 160, the equilibrium Quantity is 80 tickets, the upper intercept of the demand curve on the y-axis is SAR 400 and lower intercept of the supply curve on the y-axis is zero. What will be the dead weight loss if the government imposes a tax of SAR 80 per ticket and the buyer and sellers share the tax of 50 percent each? [2.5 Marks]
Q3: What do you mean by import tariff and import quota? Take an example and discuss the difference between tariffs and quotas with the help of graphs. [2.5 Marks]
Q4: Provide the equation to calculate the GDP of a nation. Explain all four factors that contribute to the GDP calculation in detail. [2.5 Marks]

Assignment 1 Questions: Week 4, 5 & 6
Q1: Illustrate an example of your choice and discuss consumer surplus, producer surplus, Total surplus, and deadweight loss with the help of the graphs.[2.5 Marks]
Q2: Calculate the consumer surplus, producer surplus, and total surplus in a market of airplane tickets if the Equilibrium price per ticket is SAR 160, the equilibrium Quantity is 80 tickets, the upper intercept of the demand curve on the y-axis is SAR 400 and lower intercept of the supply curve on the y-axis is zero. What will be the dead weight loss if the government imposes a tax of SAR 80 per ticket and the buyer and sellers share the tax of 50 percent each? [2.5 Marks]
Q3: What do you mean by import tariff and import quota? Take an example and discuss the difference between tariffs and quotas with the help of graphs. [2.5 Marks]
Q4: Provide the equation to calculate the GDP of a nation. Explain all four factors that contribute to the GDP calculation in detail. [2.5 Marks]

Q1: Illustrate an example of your choice and discuss consumer surplus, producer surplus, Total surplus, and deadweight loss with the help of the graphs.
Q2: What do you mean by import tariff and import quota? Take an example and discuss the difference between tariffs and quotas with the help of graphs.

Give some comments of each graph. The comments should be helpful and specific! A substantive post will tell the rest of the group what you are doing, why you are doing it, what you learned from doing it, and what you think the next steps are.

Please no plagiarism I need real answers and i want them to be clear and simple do not forget the graphs if found in question,

Assignment 1 Questions: Week 4, 5 & 6
Q1: Illustrate an example of your choice and discuss consumer surplus, producer surplus, Total surplus, and deadweight loss with the help of the graphs.[2.5 Marks]
Q2: Calculate the consumer surplus, producer surplus, and total surplus in a market of airplane tickets if the Equilibrium price per ticket is SAR 160, the equilibrium Quantity is 80 tickets, the upper intercept of the demand curve on the y-axis is SAR 400 and lower intercept of the supply curve on the y-axis is zero. What will be the dead weight loss if the government imposes a tax of SAR 80 per ticket and the buyer and sellers share the tax of 50 percent each? [2.5 Marks]
Q3: What do you mean by import tariff and import quota? Take an example and discuss the difference between tariffs and quotas with the help of graphs. [2.5 Marks]
Q4: Provide the equation to calculate the GDP of a nation. Explain all four factors that contribute to the GDP calculation in detail. [2.5 Marks]

General Instructions:
1- Due date is 1 November 2023
2- WORD format only.
3- Avoid plagiarism, copying from resources without proper referencing unacceptable. Make the work clear and well-presented and mention the question number clearly in the answers.
4- All answers must be typed using (Times New Roman, size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
5- Note that graphs are highly important it is required in Q1 and Q3 So make sure to do them, You can draw them using WORD or no problem in adding a picture in which the graphs are drawn by hand.
6- I attached the assignment file and related chapters to help you.