M.A. (Semester IV) (CBCS) Examination Nov/Dec-2018
Economics
MATHEMATICAL ECONOMICS
Time: 2½ Hours Max. Marks: 70
Instructions: All questions are compulsory.
All questions carry equal marks.
Calculator is permitted.
Q.1 Multiple choice questions 14
Polynomials
More than one variable One variable
Two variable Three variables
is known for equality between price, Marginal Revenue and
Average Revenue.
Monopolistic Competition Monopoly Market
Perfect Competition Oligopoly Market
TRn-TRn-1 this equation shows
Marginal cost Marginal Profit
Marginal satisfaction Marginal Revenue
is known as a want satisfying power of the commodity.
Utility Satisfaction
Surplus Satisfaction None
If Marginal Rate of Technical Substitution Labour and capital is 2 then
MPK/MPL is
A square matrix with determinant zero is called
Nilpotent Matrix Idempotent Matrix
Non Singular Matrix Singular Matrix
For converting the less than equal to constraint in an L.P. Problem we
introduce.
Surplus variable Slack variable
Dependent variable None
Q.2 Short notes (any four out of five) 14
Features of Monopoly
Types of Equations
Features of Oligopoly
Input Output Analysis
Types of Functions
Q.3 Short answer types questions (any two out of three) 14
What is mean by Game Theory? Write its characteristics.
The total cost function for a firm is given as Q TC 9Q 11Q2 10
Find TC, AC function, MC function
Page 2 of 2
SLR-HS-21
The prices of two products namely Butter and Jam are given by the
following equations.
(Pb Price of the Butter), (Pj Price of the Jam)
9 Pb 4 Pj 10 I
ii) -Pb 6Pj 18 II
Find the equilibrium price of the two products.
Q.4 Attempt any one 14
Consider the Demand Function Q 120 4P
Find the Arc Elasticity of Demand When increase
From 20 to 21
ii) From 40 to 41
Find point Elasticity of Demand
When P 21
ii) When P 40
OR
Multiplication of Matrix
Q.5 Suppose the Total Revenue Total cost of a firm are given by the equation R
60Q and C 10 5Q2. What will be the profit maximizing output and Total
profit of the firm in Perfect Competitive Market?