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School for Continuing Education (NGA-SCE)
Course: Business Economics
Internal Assignment Applicable for April 2023 Examination
Assignment Marks: 30

Instructions:
 All Questions carry equal marks.
 All Questions are compulsory
 All answers to be explained in not more than 1000 words for question 1 and 2 and for question
3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far
as possible.
 All answers to be written individually. Discussion and group work is not advisable.
 Students are free to refer to any books/reference material/website/internet for attempting
their assignments, but are not allowed to copy the matter as it is from the source of reference.
 Students should write the assignment in their own words. Copying of assignments from other
students is not allowed.
 Students should follow the following parameter for answering the assignment questions.

1. “The technique of indifference curves has been used not only to explain consumer’s
behaviour and demand but also to analyse and explain several other economic problems “In
view to the above statement elaborate about indifference curve and its properties.
(10 Marks).

2. Find below hypothetical data for total production costs of a manufacturing firm at various
levels of output. Complete the following: (10 Marks)
Output Total cost Fixed cost Variable cost Average
fixed
cost
Average
variable
cost
Average
cost
0 1000 1000
20 1200 1000
40 1300 1000
60 1380 1000
100 1600 1000

3. a. Large scale production is considered to be economical in the sense of per unit cost. Explain
the statement by describing different types of economies of scale. Give examples to
substantiate your answer (5 Marks).

3. b. Elaborate Cross Demand, Composite Demand and Derived Demand and cite an example
to enumerate these types of demand. (5 Marks).