Microeconomic

Individual Project Introduction to Microeconomics II

Lecturer: Ms. Marissa Chester

E-mail: [email protected]

Due date: Friday 29th March 2019

CHUKY’s Enterprises Limited operates in Grand Turk and offers

Horseback Riding to Tourists from the Cruise Center and interest

Residents awaiting an adventurous experience. The Managing Director

Mr. Phillip, sent the following data for you compose specific

Microeconomic statistic for his operations.

CHUKY’s Enterprises Limited currently has to pay the Government of

the Turks and Caicos Islands a monthly Rental of $450.00 per month to

use the stable facilities at the beach. In addition, the company

typically incur a monthly cost of $10.00, $8.00 and 12.00 for Hay,

Water and Horse grain for each horse housed at the stables.

Horses Variable Cost Fixed Cost Total Cost

0

2

6

10

22

40

50

Instructions:

• Given the information above, Students are required to compute CHUKY’s Enterprises Limited, Variable Cost, Fixed Cost and Total Cost.

• Students are required to illustrate CHUKY’s Enterprises Limited, Variable Cost Curve, Fixed Cost Curve and Total Cost Curve. N.b. two horses are usually required to facilitate one ride (indicator for

output).C

• The Government of the Turks and Caicos Islands increased the stables rental fee by $300.00. You are required to re- compute CHUKY’s Enterprises Limited, Variable Cost, Fixed Cost and Total Cost and

illustrate the company’s respective curves.

• Compute the Company’s Marginal Cost, Average Fixed Cost, Average Variable Cost and Average Total Cost after the increase in rental fees.

Introduction to Microeconomics II PAGE 2 OF 2

This project is worth 10% of your overall assessment.

GUIDELINES FOR PROJECT

The following governing conditions apply to the typed project:

➢ The Cover - Page is to include the following in the order specified: 1/ Name of Education Institution (at top of page) 2/ Title of Course and Course code 3/ Name of Students and ID numbers 4/ Title of Project 5/ Date submitted 6/ Name of Lecturer.

➢ You are required to submit 1 hard copy to the Lecturer during class AND e-mail 1 soft- copy to the Lecturer at [email protected]

This assessment is worth 10% of your total marks and must be done within the deadline specified.

Failure to do so will result in an automatic grade of zero. Plagiarism, improper documentation and

blatant careless incorrect grammar and spelling will be penalized by the loss of 2.5 marks of your grade

in each case.

End of Assignment