Punjab Technical University 2009-1st Sem B.B.A ,, Microeconomics , , - 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) What is the Equi- Marginal principle?

b) describe Equilibrium

c) How do tastes and preferences of consumer affect the demand of a commodity?

d) An individual Demand schedule of consumer x and y has been provided a follows. Suppose there are only these 2 consumers in the market, obtain out the market demand schedule.
Price (Rs.) : 10 20 30 40
Demand of x : 50 40 30 70
(units)
Demand of y : 30 28 25 10
(units)

e) What do you mean by production function?

f) What is indifference map?

g) describe Price effect.

h) Distinguish ranging from fixed costs and variable costs.

i) elaborate the features of an oligopoly market.

j) elaborate the features of monopolistic competition?

part – B [4x10=40]

Q2) Examine the importance of micro economics in business studies.

Q3) describe Price Elasticity of Demand. elaborate the factors on which price elasticity of demand depend.

Q4) discuss how consumer attains equilibrium with the help of indifference curve.

Q5) Why long run avg. cost (LAC) curve is called as planning curve?

Q6) What is Break-even analysis? W hat are its assumptions?

Q7) define elaborate the conditions for equilibrium of a firm under perfect competition?

Earning:   Approval pending.