eco401 GDB SOLUTION FALL 2017
Dear VU (Virtual University of Pakistan) Students, here you read and download ECO401 (Economics) GDB No.1 Solution Fall–2017. GDB Total Marks 05. You can download easily GDB Solution click the download button and get GDB Solution. GDB Open Date 16th January 2018 and GDB Closing Date 18th January 2018. You can also like for latest update our Facebook page, YouTubechannel and follow on Google+. Previously (VU KI DUNIYA) share ECO401 (Economics)Assignment No.1Solution fall – 2017.
The Case:
Pakistan’s economy has been growing at a very stable rate from last few years and this growth is demanding higher energy consumption and thus putting a huge pressure over country’s limited energy resources. Oil is one of the primary energy resources of the country. Attock Oil Company Ltd., Dewan Petroleum Ltd., Oil & Gas Development Company Ltd., Mari Gas Company Ltd., Shell Development & Offshore Pakistan are major suppliers of oil in Pakistan. Due to higher oil consumption, country also imports large quantity of oil every year to meet domestic demand of oil. Decreased oil prices in last 3 years have contributed significantly in growth rate of the country. Due to rise in international oil price from last 4 months, domestic oil prices also increased abruptly and reached at level of Rs. 77.47 per liter.
Requirement:
Keeping in mind the characteristics of four market structures discussed in lectures, you are required to identify in which market structure domestic oil companies are operating out of four market structures. If domestic oil prices continue to rise in future, then what will be its impact on cost of basic necessities of life in the country?
Note:
Be precise and write to the point. Avoid internet cheating and irrelevant extra details.
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