ba 2nd sem economics question paper 2013 | Assam University
TDC Even Semester Exam., 2013
ECONOMICS
(Pass)
( 2nd Semester)
Paper No. : ECOP-20 1
Microeconomics—Il
(Theory)
Full Marks: 50
Pass Marks: 17
Tune: 2 hours
The figures in the margin indicate full marks for the questions
Answer five questions, selecting one from each Unit
UNIT—I
1. (a) Distinguish between private cost and social cost. 2
(b) What are the determinants of costs of production of a firm? 3
(c) Why is the long-run average cost curve U-shaped? Explain it with the help of a diagram. 2+3=5
2. (a) why does MR curve lie below the AR curve under imperfect competition? But why under Perfect competition, MR curve coincides with the AR curve? 2Ya+24e5s
(b) what is revenue? How does it differ from cost?
(C) State the two conditions of equilibrium of a firm.
UNIT—ll
3. (a) what is market period? Draw a market period demand curve and a supply curve. 1+1=2
(b) what do you mean by normal price? 2
(c) Explnin, with the lelp of a dingram, the price-output determination perspective under monopoly market. 6
4. (a) what is simple monopoly? How does it differ from discriminating monopoly? 1+1.2
b) Mer.tion, in brier, the four factors which prevent entry of new firms into monopoly tnaxket. 4 $
(c) ‘Dumping is a special case of price discrimination.” Discuss. 4
UNIT—Ill
5. (a) what is monopolistic competition? Mention its three basic asaumptions.
(b) what is selling cost? 1
(c) write a short note on ‘group equilibrium’. 5
6. (a) what is oligopoly? Point out two differences between pure oligopoly and partial oligopoly. 2+2-4
(b) whose name is associated with kinky demard curve? Draw a kinky demand curve. 1.3—4
(c) what is collusive oligopoly? who has suggested it? 1+1—2
UNIT—IV
7. (a) Mention two basic idens or the Ricardian theory of rent. 2
(b) Point out the basic differences between rent and price. Does rent enter into price? 2+2e4
(c) what is real wage? Mention three basic factors which often govemn real wage of workers. 1+3e4r
8. (a) Make a brief description on neo-clasaical lheory of interest.
(b) what is profit? Point out the fufldamental differences between gross profit and net profit.
(c) Wiat is liquidity preference in Keynesian sense? Does It undergo change with the changes in rate of in:erest? 1 + 1 —
UNIT—V
9. (a) what is welfare economics? Mention its three basic objectives. 1+3e4t
b) Distinguish between posltive economics and welfare economics.
(c) write a bdier note on 4social welfare’.
10. (a) what is optimum position in the Piretian sense?
(b) Mention two merits and two demerits of Pigouvian welfare economics. 2+2.4
(c) write a short note on ‘Pigou's ideal output’.
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