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    Max. Marks: - (50) (Micro) Max. Time: - (1.5) HR

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    Purnima Kapoor
    The document contains 13 questions related to microeconomics topics including: 1. Defining opportunity cost, marginal revenue, and producer's equilibrium. 2. Explaining how market structure affects price taking behavior. 3. Calculating elasticity of demand from price-quantity data and determining if demand is elastic. 4. Explaining factors that can shift the demand curve using diagrams. 5. Contrasting monopoly and monopolistic competition market structures. 6. Using total cost data to calculate average fixed cost, variable cost, and marginal cost. 7. Explaining the three stages of diminishing returns to scale with a diagram. 8. Analyzing how price changes

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    Max. Marks: - (50) (Micro) Max. Time: - (1.5) HR

    Uploaded by

    Purnima Kapoor
    30 views1 page
    The document contains 13 questions related to microeconomics topics including: 1. Defining opportunity cost, marginal revenue, and producer's equilibrium. 2. Explaining how market structure affects price taking behavior. 3. Calculating elasticity of demand from price-quantity data and determining if demand is elastic. 4. Explaining factors that can shift the demand curve using diagrams. 5. Contrasting monopoly and monopolistic competition market structures. 6. Using total cost data to calculate average fixed cost, variable cost, and marginal cost. 7. Explaining the three stages of diminishing returns to scale with a diagram. 8. Analyzing how price changes

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    The document contains 13 questions related to microeconomics topics including: 1. Defining opportunity cost, marginal revenue, and producer's equilibrium. 2. Explaining how market structure affects price taking behavior. 3. Calculating elasticity of demand from price-quantity data and determining if demand is elastic. 4. Explaining factors that can shift the demand curve using diagrams. 5. Contrasting monopoly and monopolistic competition market structures. 6. Using total cost data to calculate average fixed cost, variable cost, and marginal cost. 7. Explaining the three stages of diminishing returns to scale with a diagram. 8. Analyzing how price changes

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    30 views1 page

    Max. Marks: - (50) (Micro) Max. Time: - (1.5) HR

    Uploaded by

    Purnima Kapoor
    The document contains 13 questions related to microeconomics topics including: 1. Defining opportunity cost, marginal revenue, and producer's equilibrium. 2. Explaining how market structure affects price taking behavior. 3. Calculating elasticity of demand from price-quantity data and determining if demand is elastic. 4. Explaining factors that can shift the demand curve using diagrams. 5. Contrasting monopoly and monopolistic competition market structures. 6. Using total cost data to calculate average fixed cost, variable cost, and marginal cost. 7. Explaining the three stages of diminishing returns to scale with a diagram. 8. Analyzing how price changes

    Copyright:

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    Download as DOCX, PDF, TXT or read online from Scribd
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    Max. Marks:- (50) (MICRO) (1.)Answer the following questions:(a) Define opportunities cost. (b) Define marginal revenue.

    (c) What is meant by producers equilibrium? (d) In which market product differentiation is found and in which market firm is a price taker? (e) When demand of a commodity is perfectly inelastic what change will be in equilibrium price when supply decreases? (2.) Explain & draw production possibility curve with the help of a hypothetical table. 3 Marks (3.) Price of a commodity is Rs 50 per unit and its quantity demanded is 500 units. When its price increases to Rs 60 then its quantity demanded reduces by 90 units. Find its elasticity of demand. Is its demand is elastic? 3 Marks (4.) Explain any 4 determinants of the market supply of a commodity. 4 Marks (5.) Explain the relationship between AR & MR. 3 Marks (6.) Briefly explain any three factors that shift the demand curve to the right.3 Marks (7.) Define elasticity of supply. Explain with the help of diagram geometric method of measuring elasticity of supply. 4 Marks (8.) Give difference between Monopoly & Monopolistic competition. 3 Marks (9.) From the following information (find):4 Marks Output 0 1 2 3 4 Total Cost 150 300 420 600 790 (a) Average fixe cost of producing 3 units. (b) Variable cost of producing 4 units. (c) Level of least average cost. (d) Marginal cost of producing 2 units. (10.) What is meant by return to variable factors? Explain the three stages of diminishing return to scale with the help of diagram? 6 Marks (11.) How does a change in the price of related goods affect the demand of a commodity? Explain. 3 Marks (12.) With the help of suitable diagram explain the process of determination of equilibrium price of a commodity under perfectly competitive market. 3Marks (13.) Define equilibrium price. Explain with the help of diagram the effect of an increase in demand of a commodity on its equilibrium price and equilibrium quantity. OR If the demand and supply of a commodity both increases, the equilibrium price may not change may increase, may decrease. Explain using diagram. 6 Marks

    M:-8826241920 Max. Time:-(1.5)Hr. 5 Marks

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