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Micro Economics & Macro
Economics
Jun 2025 Examination
PLEASE NOTE: This assignment is application based, you
have to apply what you have learnt in this subject into real life scenario. You
will find most of the information through internet search and the remaining
from your common sense. None of the answers appear directly in the textbook
chapters but are based on the content in the chapter
Q1. Rohan owns a local organic
farming business that supplies fresh fruits and vegetables to supermarkets and
online grocery platforms. Recently, he has seen an increase in demand due to
rising consumer preference for organic produce. However, he is struggling to
increase supply due to challenges such as unpredictable weather conditions,
high labor costs, rising transportation expenses, and government farming
regulations. As an agricultural consultant, analyze the concept of supply and
its determining factors to help Rohan expand his business. (10 Marks)
Q2A. Aarav owns a chain of
fast-food restaurants that specializes in gourmet burgers. Recently, he noticed
that when he increased the price of his signature burger by 10%, sales dropped
significantly. However, when he increased the price of soft drinks by 15%,
there was little to no impact on sales. Aarav is now trying to understand how
price changes affect demand for different products in his restaurant and how he
can use this information to make better pricing decisions. As a business
consultant, analyze the concept of price elasticity of demand and recommend
pricing strategies that Aarav can use to maximize revenue without losing
customers. (5 Marks)
Q2B. Neha, a young professional,
recently received a promotion with a significant salary hike. Excited about her
increased income, she decides to upgrade her lifestyle by purchasing premium
organic food products, high-end fashion brands, and a gym membership. However,
she also notices that some of her colleagues, despite their higher incomes,
continue buying budget-friendly brands and prefer saving rather than increasing
their spending. As an economist, analyze the impact of the income effect on
Neha’s consumption choices. In your response explain the concept of the income
effect and how changes in income influence consumer demand for normal goods,
inferior goods, and luxury goods. (5 Marks)
Dear Students,
Get fully solved assignments by professionals providing since 2012 — trusted by
over 10,000+ students!
100%
plagiarism-free or your money back!
Send
your queries to: help.mbaassignments@gmail.com
( Call/WhatsApp: +918263069601
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reliable, and guaranteed quality!
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