Full Marks: 100
Pass Marks: 35
Candidates are required to give their answers in their own words as far as practicable. The figures in the margin indicate full marks.
Brief Answer Questions [10×2=20]
Attempt ALL Questions.
1 Define marginal rate substitution.
2 List out the factors that causes rightward shift in supply curve.
3 State the law of variable proportions.
4 Why does TR increases at a decrease rate when MR decreases?
5 Let Ca =RS 150000, C a=RS 100000, Ca-b=RS 200000.Compute the degree of economics of scope.
6 Microeconomics is also called Price of Theory. Why?
7 Identity the factors that create interest rate differentials.
8 Write any four characteristics of oligopoly.
9 Let ,ep(NEWSPAPERS)=-0.6 and ep(mobile sets)=-1.8 in order to increase the TR to which commodity would you suggest to increase price?
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10 Demand is a flow concept .Why?
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Descriptive Answer Questions
Attempt FIVE Questions. [5×10=50]
11 What is business economics? Explain its scope.
12 Explain the modern theory of rent.
13 Explain the concept of cost plus pricing with suitable examples.
14 Consider the following demand and supply schedules.
b Compute price elasticity of demand at movement from B to D and D to B by percentage method.
c Compute price elasticity of demand at a movement at midway between B to D and D to B by arc method.
d State the relationship between price elasticity of demand and total revenue.
15 a Explain the concept of price ceiling and price floor.
b Let demand function Qd=300-5p,supply function, Qs=-150 +5p.Determine consumers surplus ,procedures surplus and total surplus.
16 a Differentiate accounting cost and economic cost with suitable examples.
b Let cost function C=600+20Q+0.1Q3
1 Derive TC, AVC, AC, and MC functions.
2 Determine the value of TC ,AVC, AC and MC at output (Q)=20
Analytical Answer Question [15*2=30]
Attempt Any two questions
17 How does firm maximize output by investing fixed total cost outlay at given prices on two inputs ?What will be the effect on output when total cost outlay increases?
18 What is monopoly ? How are the price and the output determined under it?
19 a Derive income consumption curve for normal goods.
b Let budget=RS 100000,Px=RS 200,Py=RS 100
1 Derive budget constraint and identity the consumers equilibrium under equal allocation of budget.
2 Let price of X good falls to RS 100.Derive new budget constraint. Also identity the new equilibrium when he allocates RS 4000 on X goods and RS 6000 on Y goods.
3 Derive price demand curve for X good.
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