ECO401 - Economics Quizzes & GDB

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ECO401 - Economics Quizzes & GDB

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ECO401 Economics GDB No. 1 Solution and Discussion Fall 2017 Due Date: January 18, 2018

Started by OK. (Final Year) *Admin. Last reply by OK. (Final Year) *Admin Jan 16, 2018. 1 Reply

Quiz 3 of Eco401

Started by pakistani Jul 21, 2017. 0 Replies

GDB1 Fall 2016

Started by Muhammad Sohail Anjum MPA. Last reply by Anil - CS619 Jan 18, 2017. 2 Replies

ECO401 - Economics Quiz No. 1 Fall 2016 Due Date Nov 30, 2016 - Questions added

Started by Waqar Durrani (M.HRM - 3rd). Last reply by Waqar Durrani (M.HRM - 3rd) Nov 30, 2016. 15 Replies

Quiz no. 1 -- Fall 2016

Started by Waqar Durrani (M.HRM - 3rd). Last reply by Waqar Durrani (M.HRM - 3rd) Nov 30, 2016. 3 Replies

ECO401 - Economics GDB No. 1 Spring 2016 Due Date Wednesday, July 18, 2016

Started by Muhammad Saleem Iqbal. Last reply by Irfan Khan MSCS Jul 18, 2016. 3 Replies

ECO401 - Economics GDB No. 1 Solution Fall 2015 Due Date January 28, 2016

Started by Darakhshan Tariq (BSIT) 2nd. Last reply by A-Lee Syed Jan 28, 2016. 7 Replies

ECO401 - Economics Quizzes & GDB NO 2

Started by Darakhshan Tariq (BSIT) 2nd Dec 8, 2015. 0 Replies

ECO401 - Economics Quizzes & GDB NO 2

Started by Darakhshan Tariq (BSIT) 2nd Dec 8, 2015. 0 Replies

ECO401 - Economics Quizzes & GDB NO 1

Started by Darakhshan Tariq (BSIT) 2nd. Last reply by Shahzada Sohail M.Operations Nov 14, 2015. 40 Replies

ECO401 GDB 2 last date August 07, 2015

Started by +*Princess BSSE*+7th. Last reply by Abdul fahad warsi (BS SE) Aug 7, 2015. 10 Replies

ECO401 Quiz 3 July 30,2015

Started by +*Princess BSSE*+7th. Last reply by Aeni Awan(mcs 4th) Jul 30, 2015. 2 Replies

ECO401-Economics Quizz # 2 discussion Spring 2015, Last Date June 12.

Started by Miss Malik BSc(CS)-2nd. Last reply by Miss Malik BSc(CS)-2nd Jun 12, 2015. 8 Replies

ECO401 - Economics GDB No. 1 Discussions and Solutions Fall 2014 Due Date: February 13, 2015

Started by ˚* ˚✰ Kα$h!F ღ bS!t-2nd ✰˚* ˚. Last reply by murtaza sharif Feb 13, 2015. 10 Replies

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Comment by Gulab on January 15, 2017 at 11:58am

Need tips about Eco401 GDB 01 fall 2016

Comment by prince.ammy.lion(MBS) on July 14, 2016 at 12:06pm

price Discrimination:
This involves charging a different price to different groups of people for the same good
Types of Price Discrimination:
third degree Price Discrimination use in TAJ MEHAL
This involves charging a different price to different groups of consumers. These groups of consumers can be identified by particular characteristics such as age, sex, location.Ticket rates are different for night visits for different people in TAJ MAHEL in which economic view is used first degree price discrimination.Profit is maximized where MR=MC. Because demand is more inelastic in market (A) it leads to a higher price being set. In market (B) demand is price elastic, so profit maximizing price is lower.

Advantages of Price Discrimination
1. Firms will be able to increase revenue. This will enable some firms to stay in business who otherwise would have made a loss. For example price discrimination is important for train companies who offer different prices for peak and off peak.
2. Increased revenues can be used for research and development which benefit consumers
3. Some consumers will benefit from lower fares. E.G. old people benefit from lower train companies; old people are more likely to be poor.
Disadvantages of Price Discrimination
1. Some consumers will end up paying higher prices. These higher prices are likely to be allocate inefficient because P > MC.
2. Decline in consumer surplus.
3. Those who pay higher prices may not be the poorest. E.g. adults could be unemployed, OAPs well off.
4. There may be administration costs in separating the markets.
5. Profits from price discrimination could be used to finance predatory pricing.
Importance of Marginal Cost in Price Discrimination
In markets where the marginal cost of an extra passenger is very low. E.G. a bus traveler the firm has an incentive to use price discrimination to sell all the tickets. This is why sometimes prices for airlines can be very low just before their date. Once the company is due to fly the MC of an extra passenger will be very low. Therefore this justifies selling the remaining tickets at a low price.
Examples of price discrimination
1. Student discounts on trains
2. Discounts for buying train tickets in advance
3. Discounts for traveling at off peak time
4. Lower unit cost price for buying high quantity.


Comment by Ƙαɴʓ ʋℓ Ємαɴ (вscs) on July 9, 2014 at 5:16pm

:-)

Comment by sami ul haq (bcs 3rd semester) on December 4, 2012 at 10:38am
  • A firm never operates

  • options

  • At the minimum of its average total cost curve.

  • At the minimum of its average variable cost curve.

    • On the downward-sloping portion of its average total cost curve.

    • On the downward-sloping portion of its average variable cost curve.

Comment by dua latif (MBS 3 sms) on November 27, 2012 at 10:39am

Assalm o Alikum

 

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