Microeconomics ( Short Written Response ) Essay - 1358 Words

SOUTHERN CROSS UNIVERSITY ASSIGNMENT COVER SHEET For use with online submission of assignments Please complete all of the following details and then make this sheet the first page of each file of your assignment – do not send it as a separate document. Your assignments must be submitted as either Word documents, text documents with .rtf extension or as .pdf documents. If you wish to submit in any other file format please discuss this with your lecturer well before the assignment submission date. Student Name: Sumit Sharma Student ID No.: 22654049 Unit Name: ECONOMICS AND QUANTITATIVE ANALYSIS Unit Code: ECO82001 Tutor’s name: Badri Bhattrai Assignment No.: 2 Assignment Title: MICROECONOMICS ( SHORT WRITTEN RESPONSE) Due date: 5,DEC,2016 Date submitted: 5,DEC,2016 Declaration: I have read and understand the Rules Relating to Awards (Rule 3 Section 18 – Academic Misconduct Including Plagiarism) as contained in the SCU Policy Library. I understand the penalties that apply for plagiarism and agree to be bound by these rules. The work I am submitting electronically is entirely my own work. Signed: (please type your name) Sumit Sharma Date: 5 december 2016 Question 1 What is the midpoint method for calculating price elasticity of demand? How else can the price elasticity of demand be calculated? What is the advantage of the midpoint formula? Answer 1 Definition: Price elasticity of demand is a Theory of the relationship between a change in the quantity demanded of aShow MoreRelatedEconomic Cost versus Accounting Cost4283 Words   |  18 PagesProduction 7.1 Measuring Cost: Which Costs Matter? 7 Economic Cost versus Accounting Cost ââ€"  accounting cost equipment. 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