M.A. (Semester (CBCS) Examination Oct/Nov-2017
Economics
MICRO ECONOMIC ANALYSIS I
Day Date: Thursday, 16-11-2017 Max. Marks: 70
Time: 10.30 AM to 01.00 PM
Instructions: All questions are compulsory.
All questions carry equal marks.
Q.1 Select the correct option from the given options. 14
In economy resources are owned by government.
Democratic Capitalist
Socialist Mixed
Micro economics is the branch of economics which is introduced by
Adam smith Rangner Frisch
Public economics None of the above
In theory, ratios of prices and marginal utilities of goods are equal.
Cardinal Ordinal
Equi-proportional marginal Consumer surplus
is the feature of indifference curve.
Downward slopping of IC Decreasing rate of MRS
Convex to the origin All of the above
is the condition for equilibrium of a firm under monopoly market.
MC=MR AC=AR
MR=AC AR=MR
cost curve has flatter U shape.
LAC LMC
LMR LVC
are the characteristics of monopolistic completion.
Product differentiation Selling cost
Group behavior All the above
Q.2 Write short notes. (Any four) 14
Cardinal Utility
Price Effect
Arch elasticity of demand
Heterogeneous oligopoly
Kinked demand curve
Q.3 Write short notes. (Any two) 14
Explain the subject matters of the micro economics.
Explain the cardinal theory of utility.
What are the types of technological progress?
Q.4 Answer the following question: 14
What are the features of capitalistic economy? Explain the role of price
mechanism in the capitalist economy.
OR
Discuss the various application of indifference curve.
Q.5 Explain the short run and long equilibrium of firm under monopoly market? 14