arts economics question paper 1st semester old question paper 2011 | Assam University
TDC Odd Semester Examination, November—2011
ECONOMICS
(Pass)
( 1st Semester )
Course No. : ECOP—lOl
Microeconomics—I
Full Marks: 50
Pass Marks: 17
Time : 2 hours
The figures in the margin indicate full marks for the questions
Answer five questions, taking one from each Unit
UNIT—I
1. (a) Discuss briefly the subject matter of economics. 5
(b) Explain the basic problems of choice in economics. 5
2. (a) Discuss the concept of equilibrium in economics. 4
(b) What are different types of equilibrium? Explain them. 6
UNIT —II
3. (a) Explain why demand curve slopes downwards from left to right. 4
b) Can you conceive a demand curve which moves upwards t right? 6
4. (a) Explain the concept of elasticity of demand. 5
b) What are the various determinants of elasticity or demand? 5
UNIT—III
5. (a) Define the term ‘utility’. Distinguish between total utility and marginal utility. 2-2e4 *
(b) write briefly about the defects of Marshall's utility analysis. 6
6. (a) Define inIifference curve with the help — of a diagram. 4
b) What are its properties? Explain them. 6
UNIT—IV
7. (a) What is production function? 4
b) Distinguish between short-period product tion function and long-period produc tion function. 6
8. a) Describe the production possibility curve. 4
b) Explain the uses or production possibility curve in econoniioanalysis. 6
UNIT—V
9. a) Explaiu the law ot variable proportions. 8
b) Is this law universal? 2
10. a) Explain how a producer reaches equilibrium with the help of equal product curve. 4
b) Explain the principle of marginal rate of technical substitution. 6
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