M.A. (Semester IV) (CBCS) Examination Mar/Apr-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
Monomial
Two Variable
One variable
Three variable
More than one variable
The kinked demand curve exists in
Monopoly
Monopolistic Competition
Oligopoly
Perfect competition
Utility of a product refers to
Satisfaction
Expenditure
Income
None
In Game theory we normally consider
One player
Two player
Three player
Four player
Transpose of matrix is original matrix.
Minor
Inverse
Cofactor
Transpose
Total cost curve is parallel to
X-axis
Y-axis
TC
Not parallel
For converting the less than equal to constraint in an L.P. program we introduce.
Surplus variable
Slack variable
Independent variable
None
Q.2
Short Notes. (Any Four out of Five)
14
Types of functions.
Features of monopolistic Competition.
Features of perfect competition.
Input-output analysis.
Types of matrix.
Q.3
Short Answer Type Questions. (Any Two out of Three)
14
Explain the linear programming problem with suitable example.
Suppose the long-run total cost function Find out the Long- run Equilibrium price in the Competitive Market.
The quantity demand and quantities supplied is given by the equation.
QD 50 5P and QS 3P 14
Find the equilibrium price and quantities.
Page 2 of 2
SLR-HZ-21
Q.4
Attempt any one:
14
Multiplication of Matrix
A.(BC) (AB).C
213051 4038 824311
OR
Suppose the Total Revenue and Total cost of a firm are given by the equation R=40Q and C=20+10Q2. What will be the profit maximizing output and Total profit of the firm in perfect competitive market?
Q.5
Solve the following equations of two commodity model:
14
Qd1 14 6P1 P2 Qs1 10P1 Qd2 13 P1 3P2 Qs2 6P2