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Thread: Eco401 (Economics) Solution: Assignment # 01 May 3,2010

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    Senior Member viki's Avatar
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    May 2010

    Eco401 (Economics) Solution: Assignment # 01 May 3,2010

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    Question 01
    Suppose a hypothetical economy produces two goods i-e wheat and rice.
    A. Draw the demand curve for wheat.
    B. Draw the supply curve of wheat.
    C. Determine the equilibrium in the wheat market with the help of graphs.
    D. If there is an increase in the price of rice, what will be its impact on the
    market equilibrium? Show graphically.
    E. If government imposes tax on wheat production, what will be its impact on
    market equilibrium? Show graphically.
    (Marks: A = 2, B = 2, C = 4, D= 3, E = 3)

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  2. #2
    Senior Member Awais's Avatar
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    May 2010
    Great upload .. Keep on posting the solutions dear... :P

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