M.A. (Semester (CBCS) Examination Nov/Dec-2018
Economics
MICRO ECONOMIC ANALYSIS I
Time: 2½ Hours Max. Marks: 70
Instructions: All questions are compulsory.
Figures to the right indicate full marks.
Q.1 Select appropriate word: 14
According to economics which studies wealth of nation.
Marshall Robbins
Adam Smith J. M. Keynes
is the branch of economics which studies individual factors in
detail.
Macro economics Micro economics
Public economics None of the above
is the study of aggregates which covers the entire economy.
Micro economics Public economics
Macro economics Economics
refer to how the different economics elements will solve the
central problems of an economy.
Economic system Government
Capitalistic economy None of the above
All factors of production are privately owned and managed by individual is
known as
Socialistic economy Capitalistic economy
Mixed economy None of the above
Demand is the function of
Prices of other goods Price
Income All the above
approach is measure the utility in quantitative terms.
Cardinal Ordinal
Cardinal and Ordinal None of the above
Find the correct statement.
Indifference curve has negative shape
Indifference curve has positive shape
Indifference concave to the origin
Indifference curve parallel to x axis
Extension in demand is due to
Decrease in price Increase in price
Increase in income None of the above
10) Responsiveness of the demand to change in income is known as
Price elasticity of demand Income elasticity of demand
Cross elasticity of demand None of the above
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SLR-HS-1
11) is the cost of last unit of output.
Cost Marginal cost
Total cost Variable cost
12) cost curve is known as the 'Envelope' curve.
LAC LMC
MC SAC
13) P=AR=MR this condition we find in
Perfect competition Monopolistic competition
Oligopoly market Monopoly market
14) Under the Monopoly market cross elasticity has
One Two
Greater than one Zero
Q.2 Write short notes (any four) 16
Utility
Indifference Curve
Cross Elasticity of Demand
Production Function
Marginal Cost
Total Revenue
Q.3 Write short answers (any two) 12
Write a note on ordinal utility.
What is Equi-marginal proportionality rule?
Define the concept of Budget Line.
Why Indifference curve convex to the origin?
Q.4 Answer any one question 14
Explain the consumer surplus theory.
Discuss the traditional theory of cost.
Q.5 Explain the various application of Indifference Curve? 14