M.A. DEGREE EXAMINATION, NOVEMBER/DECEMBER 2017.
First Semester
Economics
Paper I MICRO ECONOMIC ANALYSIS — I
Time 3 Hours Max. Marks 70
SECTION — A
Answer any FIVE questions. x 6 30 Marks)
Each question carries 6 marks.
1. Samuelson's revealed preference approach.
2. The concept of Morgenstern Utility Index.
3. Significance of Elasticity of Substitution.
4. Importance of the Law of Variable Proportions.
5. Nature of Short run and Long run Cost Curves.
6. Equilibrium of the Firm and Industry.
7. Product Differentiation and Selling Costs.
8. Chamberlain's concept of Excess Capacity.
SECTION — B
Answer ALL questions. x 10 40 Marks)
Each question carries 10 marks.
9. Analyze the Marshallian, Hicksian and Slutsky approaches for the demand
analysis.
Or
Write about the importance of Constant Elasticity of Demand Function.