Roll No. ............................ Total No. of Pages 2

1(ADS)1 ECONOMICS-I III-O

Time Three Hours] [Maximum Marks 100 Note Each question or part thereof shall begin on a fresh page.
Your answers should be precise and coherent.

Attempt any FIVE questions. Question No. 1 is compulsory. All questions carry equal marks.
1. Explain existence, uniqueness and stability of equilibrium. 10
List out forces of equilibrium of a firm in an industry and forces of equilibrium of an industry in perfect competition. What is the relationship between two pairs of forces 5,5
2. Differentiate between indifference curve approach and revealed preference approach towards demand analysis of consumer goods, by essential features. 10
Explain the concept of consumer surplus and its significance. 10
3.
Discuss price determination in the situation of monopolistic competition. 20

4.
What are chief characteristics of public utilities Discuss the basic principles adopted in pricing its service. 10,10

5.
Discuss the Euler's theorem, its assumptions and implications. 10,5,5

6.
Discuss any one theory of macroeconomic distribution. 20


7. Explain Kuznet's curve. 10
Show the relationship between profits and economic progress. 10

8.
How is Keynesian theory of employment different from Classical

theory of employment How does it matter from policy angle 15,5


9.
List out basic instruments of Fiscal Policy and Monetary Policy. When should each of these instruments be employed and why 5,5,10

10.
Write short notes on any two of the following


Pareto conditions of optimality


Essential elements of classical welfare economics


Essential elements of neoclassical welfare economics


Kaldor, Hicks and Scitovsky compensation principles. 10,10




GDB-15776 Contd. GDB-15776 700