M.A. (Semester IV) (CBCS) Examination Oct/Nov-2017
Economics
MATHEMATICAL ECONOMICS
Day Date: Friday, 24-11-2017 Max. Marks: 70
Time: 02:30 PM to 05.00 PM
Instructions: All questions are compulsory.
Calculator is permitted.
Q.1 Choose the correct answer from the given alternatives. 14
The Kinked demand curve exists in.
Perfect Competition Monopoly
Monopolistic Competition Oligopoly
In Game Theory we normally consider
Ten Player Two Player
Three Player Four Player
Monomial
One Variable Two Variables
Three Variables More than One Variable
In short run all factors of production are variable
True False
Sometimes True None
In Input-Output analysis the consumer demand is represented by

F D
Simplex Method is used for solving
Demand Problem Supply Problem
L. P. Problem None
Market period is.
Very short run Short run
Long run Very long run
An increase in the price of a commodity when demand is inelastic causes the
total expenditures of consumers of the commodity
Same Decrease
Increase None
In market theory the equilibrium condition is given as
MR MC MR MC
MR MC MR MC
10) Total Fixed Cost curve is parallel to
X-axis Y-axis
TC Not Parallel
11) MPC is always
0 1
0<MPC<1 None
12) At equilibrium the slope of indifference curve and budget line is
Indeterminate Same
Different None of the above
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SLR-HE-32
13) If Marginal Rate of Technical Substitution between Labour and Capita is 2
then MPk/MPL is
2 1
½ 4
14) When total product falls
AP=0 MP=0
AP is negative AP is highest
Q.2 Short Notes. (Any Four) 12
Types of functions.
Features of Monopoly.
Types of Equations.
Features of Perfect Competition.
Features of Oligopoly.
Q.3 Attempt any Four Questions 16
Write the Input Output Analysis.
Explain the linear Programming Problem with suitable example.
What is mean by Game Theory? Write its characteristics.
The quantity demand and quantities supplied is given by the equation
QD 50 5P and
QS 3P 14
Find the equilibrium price and quantities.
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)
9Pb 4Pj 10
-Pb 6Pj 18
Find the equilibrium price of the two products.
Q.4 Attempt any Two questions: 14
Suppose the Total Revenue and Total Cost of a Firm are given by the
Equation R 20 Q and C =10 5Q2. What will be the Profit maximizing
Output and Total Profit of the Firm in Perfect Competitive Market?
The total cost function for a firm is given as, Q=2
TC 9Q 11Q2 10
Find TC, AC function, MC function.
Multiplication of Matrix
A C
A
4 1
3 0
5 1
B
4 0
5 8
C
6 2 4
3 1 1
Q.5 Consider the Demand Function Q 120-4P 14
Find the Arc Elasticity of Demand When P increase from 20 to 21; ii)
from 40 to 41
ii) Find Point Elasticity of Demand When P 21; When P 40
OR
Solve the following equation of Two Commodity Model 14
Qd1 14 6P1 P2
QS1 10P1

Qd2 13 P1 3P2
QS2 6P2