LOVELY PROFESSIONAL UNIVERSITY HOME WORK NO.

1 School of Commerce and Economics Domain: D11 Name of the faculty member Course Code: ECO515 Course Title: Managerial Economics Class: Section: Batch: 2013 Max. Marks: 30 Date of Allotment: 16-2-2013 Date of Submission: 22-2-2013 S. No 1 Roll No All Objectives of Academic Activity Understanding the subject matter and scope of Managerial economics and various tools and techniques used in effective Decision Making. Topic See Annexure Evaluation Details Each question carries 5 marks

Note: Copied assignments will get zero marks. Date: Remarks by COS-F (Mandatory) Sig. of COS-F with date Remarks by COD-F (Mandatory) Sig. of COD-F with date Sig. of Faculty member

HW ECO 515 (Q1) Managerial Economics helps in decision making in the framework of uncertainty and scarcity of resources. Discuss the statement and elaborate with an example. http://books.google.co.in/books? id=KmXRO2m_L4IC&pg=PA2&lpg=PA2&dq=Managerial+Economics+helps+in+decision+making+in+th e+framework+of+uncertainty+and+scarcity+of+ +resources.&source=bl&ots=iAoTPP6Pk7&sig=GJvG1lbRQ63uy4lrLGH26tXgKao&hl=en&sa=X&ei=JtUl UcHUL4jxrQfX1oHQDw&ved=0CC8Q6AEwAQ#v=onepage&q=Managerial%20Economics%20helps %20in%20decision%20making%20in%20the%20framework%20of%20uncertainty%20and%20scarcity %20of%20%20resources.&f=false (Q2)

Suppose there is a sudden increase in preference for chocolates. But the cost of production rises due to rise in price of milk. Use a demand and supply model, to determine what happens to the equilibrium price and quantity in this case.

(Q3) Discuss two examples how industry utilizes The Law of Diminishing Marginal Utility. (Q4) Explain the following concepts:1) Economies of Scope 2) Learning Curves (Q5) What are the various applications of regression analysis in managerial decision making? http://www.ehow.com/about_6160819_application-regression-analysis-business.html (Q6) According to recent reports there has been a hike in the prices of petrol and diesel. Though the prices are increasing there has not been a huge fall in demand. Analyze the situations referring to Law of Demand and Elasticity.