Berhampur University 2009 B.Com 1st TDC Business Economics - Question Paper

Time-3 hours
Full marks:100
The ques. are equal value.
ans all ques..

1.What is price elasticity of demand? Explain,how would you measure price elasticity of demand at a point on the on the demand curve.
OR
What is cross elasticity of demand ? discuss the importance of the concept of cross elasticity of demand in formulating proper price stratege by a firm.

2. Explin,the 3 stage of the short run production Function. why does it make an economic sence to produce in stage on one or 3.
or
Distinguish ranging from Short run and long run. discuss how the long run envelope cost curve is derived from short run avg. cost curves.

3. What is meant by firms equilibrium?Explain the conditions of short run equlibriun of a firm under perfect competetion.is equally of marginal revenue with marginal cost sufficient condition for equlibrium for the firm.
OR
What is collesive Oligolopy? How are price and out put determined under it?

4. '"A monopolists demand curve for labour will be downward slopping even if marginal physical product of labour is constant"Explain.
OR
"Rent is a differential surplus" explain.

5. discuss the Keeynesian Theory of interest.How is it various from classical theory?
OR
"Profit is reward for uncertainity bearing" explain.

Earning:   Approval pending.