B.B.A. (Semester (CBCS) Examination Oct/Nov-2017
BUSINESS ECONOMICS (MICRO)
Day Date: Thursday, 16-11-2017 Max. Marks: 70
Time: 10.30 AM to 01.00 PM
Instructions: All questions are compulsory.
Neat diagrams should be drawn wherever necessary
Figures to the right indicate full marks.
Q.1 Choose correct alternatives: 07
cost is the cost per unit of output.
Total Marginal
Average Real
Interest for capital is cost.
Fixed Variable
Real Residual
The relationship between price supply is
Positive Negative
Zero None of the above
Production means creation of
Supply Demand
Utility None of the above
Innovation theory of profit is put forth by
Prof. Schumpeter Prof. Knight
Prof. Keynes Dr. Marshal
Demand for luxury goods is
Inelastic Unitary
Perfectly Elastic
A rational consumer always tries to achieve satisfaction.
Minimum Maximum
Zero Negative
Q.1 State whether True or False: 07
Profit is fixed income.
Product differentiation is essential feature of monopoly market.
Merely desire means not demand.
The supply curve downwards from left to right.
Opportunity cost means opportunity lost.
Micro economics includes small study only.
Average revenue is a profit per unit of a commodity.
Q.2 Write short notes. (Any two) 14
Explain the law of dem.
Explain the modern theory of rent.
Features of business economics.
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SLR-CB-4
Q.3 Write short notes. (Any two) 14
Fixed cost variable cost
Features of monopolistic competition
Innovation theory of profit
Q.4 Describe the scope of micro economics. Explain its merits Demerits. 14
OR
What are the features of oligopoly? Explain kinked demand curve.
Q.5 State explain the law of diminishing marginal utility. Write its exceptions. 14
OR
Define elasticity of demand? Explain the types of price elasticity of demand.