**MEC 003 Solved Assignment 2022-23**

**QUANTITATIVE METHODS FOR ECONOMIC ANALYSIS**

*MEC 003 Solved Assignment 2022-23 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.*

**Course Code: MEC 003**

**Asst. Code: MEC 003/TMA/2022-23**

**Total Marks: 100**

**Note:
Answer all the questions.**

**SECTION A**

**Answer
the following questions in about 700 words each. The word limits do not apply
in case of numerical questions. Each question carries 20 marks.**

**1. The
derivatives have wide application in economics. Explain the following through
derivatives: (4 X 5 = 20)**

**(i)
Average Revenue and Marginal Revenue**

**(ii)
Average Cost and Marginal Cost
**

**(iii)
Elasticity of demand**

**(iv)
Constant Elasticity Demand Curve**

**2. (i)
If the second derivative is zero at a point, the function may have a maximum, a
minimum or a point of inflexion. In the light of this statement, explain a
maximum, a minimum and point of inflexion.**

**15**

**(ii)
Find the point of inflexion for the following functions**

**5**

**(a) f(x)
= 3x3 + 4**

**(b) f(x)
= x3 + x2 + x + 1**

**SECTION B**

**Answer
the following questions in about 400 words each. Each question carries 12
marks.**

**3.
Explain any two economic applications of Definite Integral. Use examples to
illustrate the applications.**

**(6 + 6 = 12)**

**4. Under
perfect competition, there is a firm producing two products. Quantity of first
product is q1 and quantity of second product is q2 . Prices of both commodities
must be taken as exogenous. The price of first product is given by p1 = 5 and
the price of second product is given by p2 = 3. The firm’s cost function is
assumed to be C = 2q1 2 + 2q2 2 + q1q2. Find out the following: (6 X 2 = 12)**

**a)
firm’s revenue function**

**b)
firm’s marginal cost function for first product**

**c)
firm’s marginal cost function for second product**

**d)
firm’s profit function**

**e) the
value of q1 and q2 that maximise the firm’s profits f) Value of Hessian matrix**

**5. (i)
What is a partial derivative? Find the partial derivative of: f (x1 , x2 ) =
4x1 + 5x1x2 + 2x2 (3 X 4 = 12)**

**(ii)
What is a cross partial derivative? Find the cross partial derivative of: f (x1
, x2 ) = 4x3 + x2 4 + 3x1 3x2 4 + 5x1 x2**

**(iii)What
is a total differential? Find out the total differential of: f (x1 , x2 ) =
10x1 + x2 4 + 2bx1x2 + 5x2**

**6. What
do you understand by constrained optimisation? Let the utility function be U
(X, Y) = X2 + Y. Price of commodity X is Px = 2 and price of commodity Y is Py
= 1. The income is M = 200. Find out the equilibrium quantities of X and Y,
given the constraint M = PxX+ PyY. (5 + 7 = 12)**

**7. Write
short notes on the following: (3 X 4 = 12)**

**(i)
Algebraic function and Non-Algebraic function**

**(ii)
Right-hand limit and left-hand limit**

**(iii)Probability
distribution function**

*MEC 003 Solved
Assignment 2022-23 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.*

MEC 003 Solved Assignment 2022-23, MEC 003 Solved
Assignment 2022-23, MEC 003 Solved Assignment 2022-23, MEC 003
Assignment, IGNOU Assignment MEC 003 2022-23- Gandhi National
Open University had recently uploaded the assignments of the present session
for Programme for the year 2022-23. MEC 003 Solved Assignment 2022-23 Students
are recommended to download their Assignments from this web page itself. They
don’t got to go anywhere else when everything regarding the Assignments are
available during this article only.

For Students - MEC 003 Solved Assignment 2022-23
Students are advised that after successfully downloading their Assignments,
you'll find each and each course assignments of your downloaded Programme. MEC
003 Solved Assignment 2022-23 Candidates need to create separate assignment for
the IGNOU Master Course, in order that it's easy for Evaluators to see your
assignments.

**IGNOU Assignment Status 2022-23**

**MEC 003
Solved Assignment 2022-23** Those students who had successfully submitted
their Assignments to their allocated study centres can now check their
Assignment Status. MEC 003 Solved Assignment 2022-23 Alongside assignment
status, they will also checkout their assignment marks & result. All this
is often available in a web mode. MEC 003 Solved Assignment 2022-23 after
submitting the assignment, you'll check you IGNOU Assignment Status
only after 3-4 weeks. it'd take 40 days to declare.

MEC 003 Solved Assignment 2022-23 once the TEE
assignments are submitted to the Centres, it's send to the evaluation
department. After which the evaluation of IGNOU Assignment Solutions takes
place.

**MEC 003
Solved Assignment 2022-23 :-** Those students who had successfully submitted
their Assignments to their allocated study centers 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 MEC 003 Solved Assignment 2022-23
only after 3-4 weeks. MEC 003 Solved Assignment 2022-23 it'd take 40 days to
declare MEC 003 Solved Assignment 2022-23

**For IGNOU Solved Assignment PDF & Hand Written**

**Subscribe YouTube : ****My IGNOU Solution****s**

**WhatsApp Contact : 9958676204**