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Course Code: DECO405

Course Title: MANAGERIAL ECONOMICS

ASSIGNMENT 1

Maximum Marks: 20

Ques1: Answer the following

(a)What is law of demand?.


(b)Differentiate between direct and derived demand.
(c)What do you mean by utility?
(d)Define total and marginal revenue.
(e)Define law of return to scale?
[2*5=10]

Ques2: Explain the consumer equilibrium with cardinal utility


analysis? [5]

Ques3: What is managerial economics and define its scope?[5]

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