Essay regarding 33310



_________________________________________________________________________ BMME5103





1 . This assignment contains problem that is emerge English.

2 . Answer in English only.

three or more. Your task should be entered using 12 point Occasions New Both roman font and 1 . 5 line spacing.

4. You should submit your hardcopy assignment to your Fasilitator and ONLINE via the MyVLE. Refer to the portal pertaining to instructions around the procedures to submit your job on-line. You are advised to retain a copy of your submitted job and proof of the submitting for personal reference. Your project must be submitted on twenty-first – 29th March 2015.

5. Your assignment should be ready individually. You ought not copy someone else's assignment. Its also wise to not plagiarise another person's are your individual.


This assignment makes up about 60% from the total markings for the course.




The objective of PART one particular of this task is to allow the students to understand the fundamental financial concept and apply his/her knowledge about factors influencing demand; particularly when multiple factors transform simultaneously.


1 . The idea of a marginal use value that diminishes as the rate of consumption increases contributes to a powerful information about consumer behavior. Problem was asked: " Why should something as essential to human life because water sell for low marketplace prices whilst something as frivolous since cosmetic expensive diamonds sell for excessive market rates? ” What is their response?

(Sub-Total: 10 Marks)

2 . The moment two or more with the factors that affect demand change together, one is generally interested in identifying their merged impact on volume demanded. For instance , suppose that a firm plans to enhance the price of it is product subsequent period and anticipates that consumers' non reusable incomes will also increase next period. If, perhaps other factors influencing demand, including advertising costs and competitors' prices, are required to remain similar in the next period, demonstrate just how would you decide the merged effect of the change in value and cash flow on amount demanded.

(Sub-Total: 10 Marks)

PART a couple of


The purpose of this kind of assignment query is to enhance the skill in the students to estimate creation functions and to appreciate their particular usefulness in a relevant actual industry.


You have recently been presented with this production info and asked to fit statisti­cal production capabilities:

PLANT END RESULT (‘000 TONS) CAPITAL ($000) LABOR (‘000 HOURS) you 605. 3 18, 891 700. 2 2 566. 1 19, 201 651. 8 three or more 647. one particular 20, 655 822. on the lookout for

4 523. 7 12-15, 082 650. 3

your five 712. a few 20, three hundred 859. 0

6 487. 5 16, 079 613. 0

six 761. six 24, 194 851. several

8 442. 5 11, 504 655. 4

being unfaithful 821. 1 25, 970 900. 6th

10 397. 8 12, 127 550. 4

eleven 896. 7 25, 622 842. a couple of

12 359. 3 doze, 477 540. 5

13 979. one particular 24, 002 949. some

14 331. 7 eight, 042 575. 7

12-15 1064. on the lookout for 23, 972 925. eight

a. Quadratic Production Function

1 . Estimation a quadratic production function where Q = end result; L = labor input; K sama dengan capital input. 2 . May be the estimated creation function " good”? Why or why not? (Sub-Total: twelve Marks)

b. Cobb-Douglas Production Function

1 . Estimate the Cobb-Douglas creation function Queen ¼ αLβ1Kβ2, where Q = outcome; L = labor suggestions; K sama dengan capital type; and α, β1, and β2 will be the parameters to be estimated. installment payments on your For the Cobb-Douglas production function, test out whether the coefficients of capital and labor are statistically significant. a few. For Cobb-Douglas production...