M.A. (Economics) (Semester (CBCS) Examination, 2017
MICRO ECONOMIC ANALYSIS I Ii
Day Date: Tuesday, 18-04-2017 Max. Marks: 70
Time: 10.30 AM to 01.00 PM
N.B. All questions are compulsory.
Figures to the right indicate full marks.
Q.1 Choose the correct option: 14
is the study of individual factors in detail.
Macro economics Micro economics
Public economics Monetary economics
Dr. Marshal was measured the utility in term.
Quantitative Qualitative Positive Negative
is a golden mean between capitalistic economy and
socialistic economy.
Capitalistic economy Socialistic economy
Mixed economy None of the above
Marginal Rate of substitution in Indifference Curve is always

Decreasing Increasing Constant Neutral
shows the combination of two goods which yield same
level of satisfaction.
Isoquant Indifference curve
Production possibility curve Iso cost curve
shows the effects of change in level of price on
purchasing of the commodity.
Income effect Price effect
Substitution effect Cross Effect
Indifference curve is always to the origin.
Concave Convex Straight Parallel
are the exceptions to the law of demand.
Liquor Luxurious goods
Giffen goods All the above
Demand curve has negative shape because of
Law of diminishing marginal utility Price effect
Substitution effect All the above
Page 1 of 2
SLR-PD 06
10) Responsiveness of the demand to when change in income is
known as
Elasticity of demand Income elasticity of demand
Cross elasticity of demand Infinite Elasticity of demand
11) When technological progress increases the productivity of
capital rather than labour, it is known as
Labour deepening technological progress
Capital deepening technological progress
Neutral technological progress
Technological progress
12) TRn-TRn-1 this equation shows
Marginal Cost Marginal Profit
Marginal Revenue Marginal Satisfaction
13) The curve shows combination of two factors of
production which have equal cost of production.
Isoquant Indifference Curve
Production Curve Iso-cost
14) The kinked demand curve has kink because of
Elastic Less Elastic
Perfect Elastic Two elasticity of demand
Q.2 Write short notes (any four): 12
Ordinal utility
Marginal rate of substitution
Total expenditure method of elasticity of demand
Long run average cost
Price Differentiation
Q.3 Write short notes (any four): 16
What is indifference curve? Explain any three characteristics of
indifference curve?
What are the determinants of demand?
Explain the term capital deepening and labour deepening
technological progress.
Why the demand curve in monopolistic market is flatter?
What is kinked demand curve?
Q.4 Answer in detail (any 14
Explain the application of indifference curve in exchange of
goods and taxation.
Discuss the in detail production function.
Explain the various monopoly markets.
Q.5 What is perfect competition? Explain its short run and long
equilibrium of firm.
14
OR
What is the Oligopoly market? Explain the important features of
this market.