University of Delhi 2009 B.A Economics -I set-II, .(prog.)-I, - Question Paper
This question paper contains 7 printed pages]
Your Roll No........................... 3TTW 3sbHk>...........................5602
B.A. Prog./I J-I
(A)
ECONOMICSPaper I (Principles of Microeconomics)
(NCAdmissions of 2006-2007 onwards)
Time : 3 Hours Maximum Marks : 100
WW : 3 1JTfo : 100
(Write your Roll No. on the top immediately on receipt of this question paper.) (7 yV'1-TT PmcIcI Ft TTT SFRT fciftgM, l)
Note : Answers may be written either in English or in Hindi; but the same medium should be used throughout the paper.
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Attempt any Five questions.
All questions carry equal marks.
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1. (a) If the demand function is given by Qrf = 100 - 0.6 P
and supply function is Qg = 70 + 0.8 P, then find out the equilibrium price and equilibrium quantity.
(6) Show that the two parallel straight line demand curves have different elasticity of demand at given prices.
(c) How does Government intervention solve the problems created by price mechanism ? 7,5,8
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2. (a) Explain law of diminishing marginal utility. How
is demand curve derived from it ?
(6) Explain the concept of consumer surplus. Using it explain the paradox of value. 10,10
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3. (a) Discuss the properties of indifference curves and explain the concept of a budget line.
(6) How is consumer equilibrium obtained ? Explain the effects of price and income changes on the equilibrium. 10,10
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4. (a) The following is the schedule of the firms output at various levels of cost.
|
Output (units) |
Total Cost (Rs.) |
|
0 |
30 |
|
1 |
50 |
|
2 |
66 |
|
3 |
72 |
|
4 |
94 |
|
5 |
130 |
Find out AVC, ATC, AFC, MC, TFC and TVC.
ib) Find out the relationship between output and cost curves in long-run and short-run. Why is LRAC known as envelope curve ? 8,12
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|
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(*) |
|
0 |
30 |
|
1 |
50 |
|
2 |
66 |
|
3 |
72 |
|
4 |
94 |
|
5 |
130 |
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5. Describe the short-run and long-run equilibrium of a firm unjder perfect competition. Why should a firm enter into an industry knowing well-that it can earn only zero economic profit eventually ? What are the efficiency implications of long-run equilibrium for a perfectly competitive firm ? 20
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6. How do equilibrium price and quantity respond to changes in prices of raw materials and changes in technology ? Explain diagrammatically. 20
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7. Explain the case for protectionism. What are the different methods of protectionism ? What are the various agreements covered under WTO ? 20
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8. Write short notes on any two of the following :
(a) Public goods;
(b) Theory of games;
(c) Backward bending supply curve of labour;
(d) Absolute and comparative cost differences. 10,10 ()
(75)
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3TTWT ...................
5403
BJi. Progyi/(NS) J
(R)
ECONOMICSPaper I (Principles of Microeconomics)
(Admissions of 2005 and onwards)
Time : 3 Hours Maximum Marks : 75
WT? : 3 : 75
(Write your Roll No. on the top immediately on receipt of this question paper.)
( ImcicI ftvfRcl WH "'TT HI<*> felRaiH I )
Note : (i) Answers may be written either in English or in Hindi; but the same medium should be used throughout the paper.
(ii) The maximum marks printed on the question paper are applicable for the students of the regular colleges (Cat. A). These marks will, however, be scaled up proportionately in respect
P.T.O.
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Attachment: |
| Earning: Approval pending. |
