FREE IGNOU MMPC 010 Solved Assignment 2023-24 | Managerial Economics Solved Assignment 2023-24: MMPC 010 Solved Assignment 2023-24 , MMPC 010 Assignment 2022 , FREE MMPC 010 Assignment , IGNOU Assignments 2023-24- Gandhi National Open University had recently uploaded the assignments of this session for Management for the year 2023-24. Students are recommended to download their Assignments from this web page itself. MMPC 010 Solved Assignment 2023-24 They don’t need to go anywhere else when everything regarding the Assignments are available during this text only.
FREE IGNOU MMPC 010 Solved Assignment 2023-24 | Managerial Economics
| University | IGNOU (Indira Gandhi National Open University) |
| Code | MMPC 010 |
| Title | Managerial Economics |
| Language | English |
| Session | July 2023-January 2024 |
MMPC 010 Solved Assignment 2023-24 : for college kids – MMPC 010 Managerial Economics Solved Assignment 2023-24, Students are advised that after successfully downloading their Assignments, you’ll find each and every course assignments of your downloaded. Candidates got to create separate assignment for the IGNOU Master Course, so as that it’s easy for Evaluators to ascertain your assignments.
Answer all questions in this assignment.
Q1. What is Opportunity Cost? Explain with the help of an example why assumption of constant opportunity costs is very unrealistic.
Opportunity cost is a fundamental concept in economics that refers to the value of the next best alternative forgone when a decision is made to allocate resources (such as time, money, or effort) to a particular choice. In simpler terms, it’s what you give up when you choose one option over another.
Let’s consider an example to illustrate opportunity cost:
Imagine you have the option to either spend your evening studying for an exam or going to a movie with friends. If you choose to study, the opportunity cost is the enjoyment and time you could have had at the movie with your friends. On the other hand, if you choose to go to the movie, the opportunity cost is the potential knowledge and preparation you could have gained by studying.
Now, regarding the assumption of constant opportunity costs, it implies that the opportunity cost remains the same, regardless of the quantity of a good or service being produced. In reality, this assumption is often unrealistic because opportunity costs can change as resources are reallocated.
For example, let’s say you have a small piece of land, and you’re deciding whether to use it for growing wheat or corn. Initially, the opportunity cost of choosing one crop over the other might be relatively constant. However, as you allocate more and more of the land to one crop, the opportunity cost may change. This could be due to factors like soil depletion, changes in climate, or specialization in a particular crop leading to diminishing returns.
In the real world, resources are often limited, and as we allocate them to different activities, the opportunity cost can vary. Therefore, assuming constant opportunity costs may not accurately reflect the dynamic and changing nature of resource allocation in many economic situations.
Q2. Explain law of demand with the help of a demand schedule and demand curve. Does law of demand exist in the real world, explain with the help of an example.
Q3. How are Isoquants different from Isocost? Illustrate using graphs.
Q4. Monopoly has been stated as undesirable? Take any real life example of Monopoly in India and state its advantages and disadvantages.
Q5. Write short notes on the following:-
(a) Value Maximization
(b)Direct Costs and Indirect Costs
(c) Bundling
MMPC 010 Managerial Economics Solved Assignment 2023-24: Those students who had successfully submitted their Assignments to their allocated study centres can now check their Assignment Status. Alongside assignment status, they will also checkout their assignment marks & result. All this is often available in a web mode. After submitting the assignment, you’ll check you IGNOU Assignment Status only after 3-4 weeks. it’d take 40 days to declare. MMPC 010 Solved Assignment 2023-24
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Those students who had successfully submitted their Assignments to their allocated study centres can now check their Assignment Status. Along with assignment status, they can also checkout their assignment marks & result. MMPC 010 Solved Assignment 2023-24 All this is available in an online mode. After submitting the assignment, you can check you IGNOU Assignment Status only after 3-4 weeks. It might take 40 days to declare.
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