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M.A. (Previous) examination 2017
M.A. (PREVIOUS) EXAMINATION 2016 HELD IN 2017
ECONOMICS (PAPER I)
MICRO ECONOMICS
Time: 3 hours Max Marks: 100
Instructions:
(i) Attempt any FIVE questions
(ii) All questions carry equal marks
(iii) Draw diagrams wherever needed to elaborate your answers.
Q1 (a) What is meant by Marginal Rate of Substitution MRS? Explain with the help of diagram.
(b) Explain using suitable graphs how the relationship between the shape of indifference curves and MRS develop.
Q2 (a) What does perfect competition mean? State and explain the underlying assumptions of perfect competition.
(b) Why marginal revenue MR is equal to price in a perfectly competitive market?
Q3 (a) What is the relationship between MPP (marginal physical product) and MC (marginal cost) curves? Why are these so related?
(b) What is the relationship between MC (marginal cost) AVC (average variable cost) and ATC (average total cost) curves? Why are they so related?
Q4 Why monopolies do arises? Give few examples of underlying structures that can generate a monopoly in a market.
Q5 (a) Explain how and why the budget constraint might change if income and prices of all goods increased in same proportion.
(b) Distinguish between inferior and Geffen goods on the basis of income and substitution effects using proprietor diagram.
Q6 Do consumers or producers always pay the increase in sales tax rate? What are the factors upon which the distribution of tax burden depends between consumers and producers? Discuss with the help of diagrams.
Q7 Explain how short run supply curve of a firm and industry derived its perfect competition.
Q8 Write short notes on any two of the following:
(a) Difference between change in demand and change in quantity demanded
(b) Cornout oligopoly
(c) Knight's theory of profit
(d) Long run equilibrium monopolistic competition
ECONOMICS (PAPER I)
MICRO ECONOMICS
Time: 3 hours Max Marks: 100
Instructions:
(i) Attempt any FIVE questions
(ii) All questions carry equal marks
(iii) Draw diagrams wherever needed to elaborate your answers.
Q1 (a) What is meant by Marginal Rate of Substitution MRS? Explain with the help of diagram.
(b) Explain using suitable graphs how the relationship between the shape of indifference curves and MRS develop.
Q2 (a) What does perfect competition mean? State and explain the underlying assumptions of perfect competition.
(b) Why marginal revenue MR is equal to price in a perfectly competitive market?
Q3 (a) What is the relationship between MPP (marginal physical product) and MC (marginal cost) curves? Why are these so related?
(b) What is the relationship between MC (marginal cost) AVC (average variable cost) and ATC (average total cost) curves? Why are they so related?
Q4 Why monopolies do arises? Give few examples of underlying structures that can generate a monopoly in a market.
Q5 (a) Explain how and why the budget constraint might change if income and prices of all goods increased in same proportion.
(b) Distinguish between inferior and Geffen goods on the basis of income and substitution effects using proprietor diagram.
Q6 Do consumers or producers always pay the increase in sales tax rate? What are the factors upon which the distribution of tax burden depends between consumers and producers? Discuss with the help of diagrams.
Q7 Explain how short run supply curve of a firm and industry derived its perfect competition.
Q8 Write short notes on any two of the following:
(a) Difference between change in demand and change in quantity demanded
(b) Cornout oligopoly
(c) Knight's theory of profit
(d) Long run equilibrium monopolistic competition
M.A. (PREVIOUS) EXAMINATION 2018
M.A. (PREVIOUS) EXAMINATION 2017 HELD IN 2018
ECONOMICS (PAPER I)
MICRO ECONOMICS
Time: 3 Max Marks: 100
Instructions:
(i) Attempt any FIVE questions
(ii) All questions carry equal marks
Q1 Using the tools of indifference analysis and appropriate diagrams explain how a consumer response to a fall in the price of a normal good. How the outcome difference if the good is inferior good?
Q2 (a) Differentiate between Marshallian and Hicksian price elasticities.
(b) Explain how on the basis of elasticities we can distinguish between:
(i) Complementary and substitute goods
(ii) Normal and inferior goods
Q3 Draw and explain the models for firm and an industry in a perfectly competitive market in the long run.
Q4 Isoquants and isocost lines enable economics to derive the cost minimising level of production, but these cannot reveal about existence of economies of scale. Do you agree? Give arguments in the favour of your answers.
Q5 (a) Explain the factors which might give a firm a degree of monopoly power in a market consisting of several suppliers.
(b) Suppose a monopolist decides to maximize revenue rather than profit. Using a diagram explain how price and quantity will change.
Q6 (a) What is difference between Ricardian theory of rent and modern theory of rent? Discuss in detail.
(b) Rent element exists in all other factor of incomes. Explain
Q7 (a) Monopolistic competition is a combination of perfect competition and monopoly. Explain
(b) Describe the features of oligopoly market.
Q8 Write short notes on any THREE of the following
(a) Relationship between MPP and MC
(b) Theory of profit
(c) Demand determinants
(d) Cardinal and ordinal utility
(e) Income effect and substitution effect.
ECONOMICS (PAPER I)
MICRO ECONOMICS
Time: 3 Max Marks: 100
Instructions:
(i) Attempt any FIVE questions
(ii) All questions carry equal marks
Q1 Using the tools of indifference analysis and appropriate diagrams explain how a consumer response to a fall in the price of a normal good. How the outcome difference if the good is inferior good?
Q2 (a) Differentiate between Marshallian and Hicksian price elasticities.
(b) Explain how on the basis of elasticities we can distinguish between:
(i) Complementary and substitute goods
(ii) Normal and inferior goods
Q3 Draw and explain the models for firm and an industry in a perfectly competitive market in the long run.
Q4 Isoquants and isocost lines enable economics to derive the cost minimising level of production, but these cannot reveal about existence of economies of scale. Do you agree? Give arguments in the favour of your answers.
Q5 (a) Explain the factors which might give a firm a degree of monopoly power in a market consisting of several suppliers.
(b) Suppose a monopolist decides to maximize revenue rather than profit. Using a diagram explain how price and quantity will change.
Q6 (a) What is difference between Ricardian theory of rent and modern theory of rent? Discuss in detail.
(b) Rent element exists in all other factor of incomes. Explain
Q7 (a) Monopolistic competition is a combination of perfect competition and monopoly. Explain
(b) Describe the features of oligopoly market.
Q8 Write short notes on any THREE of the following
(a) Relationship between MPP and MC
(b) Theory of profit
(c) Demand determinants
(d) Cardinal and ordinal utility
(e) Income effect and substitution effect.
M.A. (PREVIOUS) EXAMINATION 2019
M.A. (PREVIOUS) EXAMINATION 2018 HELD IN 2019
ECONOMICS (PAPER I)
MICRO ECONOMICS
Time: 3 hours Max Marks: 100
Instructions:
(i) Attempt any FIVE questions
(ii) All questions carry equal marks
Q1 Distinguish between cardinal and ordinal utility approach. Explain the difference between diminishing marginal utility and diminishing marginal rate of substitution.
Q2 Compare the equilibrium of an industry and a firm under perfect competition in the long run.
Q3 Explain the Keynesian's theory of interest. In what respect it differs from the classical theory of interest.
Q4 Explain discriminating monopoly. How would a monopolist determine the prices and output in different markets? Elucidate with the help of a diagram.
Q5 Explain the income effect and substitution effect of a decrease in the price for normal good and inferior good.
Q6 What relation, if any, between (a) short marginal cost curve and short run average cost curve (b) short run marginal cost curve and long run marginal cost curves, explain.
Q7 What is meant by the term equilibrium in economics? Explain and distinguish between
(a) Stable and unstable equilibrium and
(b) Partial and general equilibrium with the help of examples.
Q8 Write short notes on any three of the following:
(a) Giffen Paradox
(b) Maximin and minimax principle of Game Theory
(c) Consumer surplus and producer surplus
(d) Opportunity cost
(e) Isoquant and isocost
ECONOMICS (PAPER I)
MICRO ECONOMICS
Time: 3 hours Max Marks: 100
Instructions:
(i) Attempt any FIVE questions
(ii) All questions carry equal marks
Q1 Distinguish between cardinal and ordinal utility approach. Explain the difference between diminishing marginal utility and diminishing marginal rate of substitution.
Q2 Compare the equilibrium of an industry and a firm under perfect competition in the long run.
Q3 Explain the Keynesian's theory of interest. In what respect it differs from the classical theory of interest.
Q4 Explain discriminating monopoly. How would a monopolist determine the prices and output in different markets? Elucidate with the help of a diagram.
Q5 Explain the income effect and substitution effect of a decrease in the price for normal good and inferior good.
Q6 What relation, if any, between (a) short marginal cost curve and short run average cost curve (b) short run marginal cost curve and long run marginal cost curves, explain.
Q7 What is meant by the term equilibrium in economics? Explain and distinguish between
(a) Stable and unstable equilibrium and
(b) Partial and general equilibrium with the help of examples.
Q8 Write short notes on any three of the following:
(a) Giffen Paradox
(b) Maximin and minimax principle of Game Theory
(c) Consumer surplus and producer surplus
(d) Opportunity cost
(e) Isoquant and isocost