M.A DEGREE EXAMINATION, APRIL/MAY 2018.
Second Semester
Economics
Paper I MICRO ECONOMIC ANALYSIS II
2 10321 A
Time 3 Hours Max. Marks 70
SECTION — A
Answer any FIVE questions. 6 30 Marks)
Each question carries 6 marks.
1. Marris Model of Managerial Enterprise.
2. Determination of wages.
3. Compensation Principle.
4. Technical progress and factor shares.
5. Features of Partial equilibrium.
6. Nature of Homogenous Functions.
7. Concepts of Risk and Risk Aversion.
8. Features of Sensitivity analysis.
SECTION — B
Answer ALL the following. 10 40 Marks)
Each question carries 10 marks.
9. Write about the basic features of Baumol's revenue maximization model.
Or
Examine the theory of distribution in imperfect product and factor markets.

10. Briefly analyze the Bain's limit pricing theory and it's recent developments.
Or
Explain the importance of elasticity of technical substitution.
11. Critically outline the Walrasian excess demand and input output approaches.
Or
Explain the importance of the concepts of value judgment and social welfare
function.
12. Explain the individual behavior towards risk and uncertainties.
Or
Discuss about the economics of insurance and the concepts of risk pooling and
risk spreading.