About ECO606 Assignment 1
ECO606 Assignment No 1 for Fall 2026 is from Mathematical Economics I. It covers lesson 12: Use of Matrices in Economics, carries 10 marks and is due on VULMS by 11:59 pm on Thursday 12 November 2026. You can request the solution from this page.
- Course
- ECO606 Mathematical Economics I
- Assignment
- Assignment No 1
- Semester
- Fall 2026
- Lesson
- 12: Use of Matrices in Economics
- Total marks
- 10
- End date
- Thu 12 Nov, 11:59 pm
What ECO606 Assignment 1 asks
This assignment explores market equilibrium for smartphones in Pakistan under competitive conditions. You are provided with initial demand and supply functions and a new demand function resulting from a government subsidy scheme. You must calculate the equilibrium price and quantity for both scenarios and illustrate the shift in demand graphically. The work requires applying basic algebraic market analysis.
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1
Initial market equilibrium
4 marksCalculate the initial equilibrium price and quantity using the provided demand function Qd = 150 - 2P and supply function Qs = 30 + P. Show the step-by-step mathematical process to reach your result.
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2
New market equilibrium
4 marksCalculate the new equilibrium price and quantity after the demand curve shifts. Use the new demand function Q'd = 180 - 2P while keeping the original supply function constant.
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3
Graphical representation
2 marksCreate a graph to visually demonstrate the impact of the increased demand on the market equilibrium. Ensure the shift from the initial to the new equilibrium point is clearly shown.
- What to submit
- One MS-Word or Open Office file using Times New Roman or Arial font size 12 in black or blue colors.
- Topics covered
- Market equilibrium Demand functions Supply functions Market shifts Graphical analysis
A summary of the assignment file, Fall 2026_ECO606_1.pdf. Download the file for the full wording before you start.
Lesson covered
The questions in this assignment come from this lesson. Read it in the ECO606 handout before you open the assignment file, then practise it with the MCQs and past papers.
Solution
The solution has not been added yet. Request it from the download box and it will be added to this page, usually within a day.
Before you submit on VULMS
- 1 Start on the questions in the assignment file now. The solution will be added to this page once it is written.
- 2 Write the final answer in your own words. VU checks assignments for copying, and copied work gets zero marks.
- 3 Save your answer in the file type the assignment file asks for, and name it with your student ID, for example BC260012345.
- 4 Open the file once more to check it is not empty or corrupted, then upload it on VULMS before 11:59 pm on Thu 12 Nov.
Questions about this assignment
When is ECO606 Assignment 1 due?
Thursday 12 November 2026 at 11:59 pm. VULMS does not accept files after the deadline.
When will the solution be added?
Most solutions are up within a day of a request. Requests tell us which ones to write first, and 0 students have asked for this one so far.
Can I submit the solution as it is?
No. VU checks assignments for copying, and copied work gets zero marks. Use the solution to check your method, then write your own answer.
What file do I submit?
The assignment file says which file type to upload and lists any extra instructions from your instructor. Name the file with your student ID before you upload it on VULMS.