M.A.(Economics)(Semester (CBCS) Examination, 2017
MATHEMATICAL ECONOMICS
Day Date: Saturday, 29-04-2017 Max. Marks: 70
Time:02:30 PM to 05.00 PM
N.B. All questions are compulsory.
Calculator is permitted.
Q.1 Select the correct answer. 14
All the solution possible in the face of existing constraints are called.
Dual solution Primal solution
Optimal solution Feasible solution
For converting the than or equal to constraint in an L.P. program we
introduce.
Surplus variable Slack variable
Independent variable Dependant variable
Which of the following industries most closely appropriate the
perfectly competitive model?
Cigarette Automobile
News paper Wheat farming
A mathematical expression in which all the variables are raise to the
power one.
Linear Equation Quadratic Equation
Simultaneous Equation None
Short run total can never be less than long run total cost
Never true Something true
Always true Often true
Average utility can be derived from.
Marginal Utility Total Utility
Data insufficient None
In market theory the equilibrium condition is given as
a)MR MC MR MC MR MC
MPC is always
0 1 0<MPC<1
Polynomial
One Variable Two Variables
Three Variables More than One Variable
10) Transpose of Matrix is original matrix.
Minor Cofactor Inverse Transpose
11) The Kinked demand curve exists in.
Monopoly Perfect Competition
Monopolistic Competition oligopoly
Page 1 of 2
12) total Foxed Cost curve is parallel to
a)Y axis X axis TC Not Parallel
13) When total product falls
AP=0 b)AP is declining AP is negative MP=0
14) Simplex Method is used for solving
Demand Problem Supply Problem
L. P. Problem Simplex Problem
Q.2 Short Notes (Any Four) 12
Utility
Input Output Analysis
Types of Functions
Features of Perfect Competition
Features of Monopolistic Competition
Q.3 Attempt any Four Questions 16
Explain the types of Equations.
What is mean by Game Theory? Write its Characteristics.
Explain the Linear Programming Problem with suitable example.
Explain the Types of Matrix with Suitable examples.
The quantity demand and quantities supplied is given by the
equation
QD 20 2P and
QS 10 3P
Find the equilibrium price and quantities.
Q.4 Attempt any Two questions: 14
Consider the Demand Function q 150-3P
Find the Elasticity of Demand When P increase
from 20 to 21; from 30 to 31.
Find Point Elasticity of Demand
When P 20; When P=30
The total cost function for a firm is given as Q=2
TC 2Q 4Q2 6
Find TC, AC function, MC function.
Suppose the Total Revenue and Total Cost of a Firm are given by
the Equation
90 Q and C=30 150Q2.
What will be the Profit maximizing Output and Total Profit of the
Firm in Perfect Competitive Market?
Q.5 Suppose the Long run Total Cost Function Q3 10Q2
18 Q. Find out the Long run Equilibrium Price in the Competitive
Market.
14
OR
Solve the following equation of Two Commodity Model
Qd1 14 6P1 P2
QS1 10P1

Qd2 13 P1 3P2
QS2 6P2