Total No. of Questions 10] [Total No. of Pages 01
B.B.M./B.B.A.DEGREE EXAMINATION, MAY- 2018
First Year
MICRO ECONOMICS
Time 3 Hours Maximum Marks :70
Answer any fivequestions.
All questions carry equal marks.
Q1) State and explain with suitable diagrams the law of demand. What are the reasons
for the downward slope of the demand?
Q2) How does the producer attain equilibrium under the iso-quant approach? Explain.
Q3) Explain the consumer's equilibrium with the help of indifference curves.
Q4) Explain the law of variable proportions.
Q5) Explain the differences between monopoly and monopolistic competition. Explain
the equilibrium of the firm under monopolistic competition in the short run.
Q6) Discuss the nature and scope of economics. What is the difference between macro
and micro economics?
Q7) Explain the methods of price determination in oligopoly market.
Q8) Analyse short and long run equilibrium of a firm under perfect competitive market.
Q9) Bring out the relationship between average cost curve and marginal cost curve of a
firm.
Q10) What is demand function and explain its determinants.