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Micro Economics

This document contains a test paper for Microeconomics with short answer and essay type questions. The short answer section includes 15 questions testing concepts such as indifference curves, marginal rate of substitution, cross elasticity of demand, excess capacity, inferior vs giffen goods, Ricardian theory of rent, relationship between total and marginal utility, law of equi-marginal utility, returns to scale, stages of production, consumer surplus, price discrimination, liquidity preference theory, and static vs dynamic microeconomic analysis. The essay section includes 6 questions requiring explanation and analysis of topics such as total utility vs marginal utility, isoquants/iso-cost curves, price discrimination, marginal productivity theory of distribution, price/income/sub

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291 views1 page

Micro Economics

This document contains a test paper for Microeconomics with short answer and essay type questions. The short answer section includes 15 questions testing concepts such as indifference curves, marginal rate of substitution, cross elasticity of demand, excess capacity, inferior vs giffen goods, Ricardian theory of rent, relationship between total and marginal utility, law of equi-marginal utility, returns to scale, stages of production, consumer surplus, price discrimination, liquidity preference theory, and static vs dynamic microeconomic analysis. The essay section includes 6 questions requiring explanation and analysis of topics such as total utility vs marginal utility, isoquants/iso-cost curves, price discrimination, marginal productivity theory of distribution, price/income/sub

Uploaded by

GuruKPO
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Model Test Paper 2012 B.A.

Part-II (Economics-I) Micro Economics


ShortAnswerTypeQuestions.
Q.1 Q.2 Q.3 Q.4 Q.5 Q.6 Q.7 Q.8 Q.9 Q.10 Q.11 Q.12 Q.13 Q.14 Q.15 Q.16 Q.1 Q.2 Q.3 Q.4 Q.5 Q.6 Q.7 Q.8 Q.9 Q.10 Statethemaincharacteristicsofindifferencecurves. Explainthemarginalrateofsubstitution. Definecrosselasticityofdemand. Explaintheconceptofexcesscapacity. Distinguishbetweeninferiorgoodandgiffengoodusingdiagrams. Ricardiantheoryofrent. Profitisthepaymentforuncertaintybearing?Discuss. Relationshipbetweentotalutilityandmarginalutility. Explainlawofequimarginalutility. Explainreturnstoscale. Explainstagesofproduction. Calculationofconsumerssurplus. Explainpricediscriminationpolicy. Explainliquiditypreferencetheory. Meaningandscopeofmicroeconomics. Explaincomparativestatic,staticanddynamicmicroeconomicanalysis.

(15)

EssayTypeQuestions.

(15)

By explaining difference between total utility and marginal utility, explain Marshalls total utility maximizationtheoremwiththehelpofproperequationandmathematicalexample. What do you understand by isoquants and Iso cost curve? How optimum factor combination can beachievedwiththesecurves? Explain the necessary condition for price discrimination and also analyse the allocation of total salesbyamonopolistintwodifferentmarketsforrevenuemaximization. Explain critically marginal productivity theory of distribution under the situation of pure competitionandimperfectcompetitionmarket. Explain price, income and substitution effect of normal goods by using Hicksian method (with properdiagram). RelationbetweenAR,MRandelasticityofdemand(usingproperdiagramandequations) Or ProvethatMR= AR

AR n

Explainlongrunequilibriumofpurecompetitionmodel.(firm&industry) What do you understand by monopolistic competition? Explain long run equilibrium of a monopolisticcompetitionfirm. Explain the meaning of price elasticity of demand. What are the different methods of measuring elasticityofdemand? Explain the three stages of production. Why is it that the 2nd stage of production is considered the mostrelevantstageforfactoruseinproduction?Discussusingsuitablediagram.

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