Punjab Technical University 2009-1st Sem B.B.A ,, Micro Economics , , - Question Paper

Time : 03 Hours
Maximum Marks : 60

Instruction.to Candidates:
1) part - A is Compulsory.
2) Attempt any 4 ques. from part - B.

part – A [Marks : 10×2=20]

Q1)a) describe opportunity cost.

b) describe utility. elaborate its features?

c)A five percent fall in price of chocolate leads to 10 percent rise in its demand. What is the price
elasticity of demand for chocolate?

d)What is an individual demand schedule. How is it various from market demand schedule?

e)What is budget line?

f)What is marginal rate of substitution?

g)Define Marginal Cost (MC).

h) describe avg. Revenue (AR).

i)What is price discrimination. Under what conditions is price discrimination possible?

j)What are the features of perfect competition?

part – B [Marks: 4×10=40]

Q2)What is micro economics? What is its scope?

Q3)What are the reasons for inverse relationships ranging from price of commodity and its volume
demanded?

Q4)Explain how consumer attains equilibrium with the help of utility analysis.

Q5) What is the legal regulations of variable proportions?

Q6)How price and output is determined under monopoly?

Q7)Explain how price is determined in case of price leadership under oligopoly market.

Earning:   Approval pending.