M.A. (Semester II) (CBCS) Examination Mar/Apr-2018
Economics (Paper
MICRO ECONOMIC ANALYSIS
Time: 2½ Hours
Max. Marks: 70
Instructions: All questions are compulsory. Figures to the right indicate full marks. Neat diagrams should be drawn wherever necessary.
Q.1
Multiple Choice questions:
14
The name of is most widely associated with the theory of marginal productivity.
Adam Smith
Prof. Pigou
Ricardo
J. B. Clark
suggests that sales maximization as an alternative to profit maximization.
Bain
Marris
Baumol
Williamson
Full cost pricing is calculation by adding a certain percentage of in the average total cost of production.
Wages
Profit
Interest
Rent
According to theory of distribution in free market demand supply go to determine the income of various factors.
Neo-classical
Classical
Modern
Marginal
The Ricardian theory of rent follows about the operation of law of returns in agriculture.
Increasing
Diminishing
Constant
Positive
Classical theory of interest has been criticized for its assumption for of resources.
Full employment
Maximum utilization
Partial utilization
Optimum utilization
Theory of distribution deals with factors.
Personal
Functional
Sectoral
General
According to Kaldor the share of profits in the national income is a function of ratio.
Investment Saving
Capital Interest
Investment Income
Capital Profit
The Ricardian theory makes use of in income distribution.
Compensation principle
Marginal principle
Surplus principle
Marginal surplus principle
I
10) According to Kalecki the distribution of national income into profits wages depends upon the degree of in the economy.
Monopoly
Oligopoly
Duopoly
Monopsony
Page 2 of 4
SLR-HW-85
11) A perfectly equal distribution of mill maximizes social welfare.
Gold
Wealth
Income
Capital
12) Under labour will usually be exploited at an equilibrium position.
Perfect competition market
Pure competition market
Imperfect competition market
Cut throat competition market
13) Dr. Amartya Sen was awarded the Noble Prize for his contribution to
Monetary economics
Econometrics
Development economics
Welfare economics
14) Arrows Impossibility Theorem depends on
Economic Non-economic variables
Economic variable
Non-economic variables
Political variables
Q.2
Write a short answer. (Any seven)
14
Write two criticisms on marginal analysis.
What is the goal of the firm according to Marris?
Give two assumptions of Bains Limit Pricing Theory.
Define rent.
How profit represent according to marx?
What is Pareto's optimality?
How interest is determined?
What is risk pooling?
Define the concept Welfare.
What is economics of information?
Q.3
Write short notes. (Any Two)
14
Marris model of managerial enterprise.
Full cost pricing rule.
Theory of second Best.
Amartya Sen's concept of social welfare.
Q.4

Explain neo-classical approach about marginal productivity theory.
14
OR

Discuss Arrows impossibility Theorem.
Q.5
Explain Baumols Sales Revenue Maximization Model.
14