Gujarat University 2007 B.A Economics-I New - Question Paper

Time : three Hours] [Max. Marks : 70
Instruction : All ques. carry equal marks.
1. explain critically Prof. Robin’s Definition of Economics.
OR
Briefly discuss. (any two)
(1) Demand elasticity and its importance.
(2) Concept of cross elasticity of demand.
(3) Short term and long term cost curves.
2. discuss the equilibrium point with the help of Iso-quants.
OR
discuss the equilibrium in short run and long run in the perfect competition.
3. What is price-discrimination ? When is price-discrimination possible and profitable ?
OR
Mention the characteristics of monopolistic competition and discuss the equilibrium of a
firm in monopolistic competition in short and long run.
4. explain the marginal productivity theory of distribution with its limitations.
OR
discuss in detail the Recardian Theory of Rent with its limitations.
5. Write short-notes on (any two)
(1) Neo-classical and Keyensian Theory of Interest.
(2) discuss the Innovations Theory of Profits.
(3) Kinky demand curve.
(4) Economies of Scale.

Earning:   Approval pending.