NMIMS University 2005 Diploma Business Administration Business Economics (Micro Economics) - Question Paper
Saturday, 26 January 2013 11:50Web
NARSEE MONJEE INSTITUTE OF MANAGEMENT STUDIES
(DEEMED UNIVERSITY)
DISTANCE LEARNING PROGRAMMES IN MANAGEMENT
MAY 2005 exam
BUSINESS ECONOMICS / MICROECONOMICS
ADSCM / DBM / PGDBM I / DMM / PGDMM I / DFM /
PGDFM I / DHRM / PGDHRM I
DATE : 05 / 05 / 05 TOTAL MARKS : 100
TIME : 2:00 PM TO 5:00 PM
Note: (1) Attempt any 4 ques. only
(2) All ques. carry equal marks
(3) Total ques. set in this paper are 07 (seven)
Q one ans the subsequent ques. briefly
(a) What are the differences ranging from Micro and Macro economics?
(b) What is the central issue in economics? discuss.
(c) How is economics useful in business management?
Q two (a) An organization has computed the subsequent Elasticities for its Product own Price Elasticity of demand = -0.3, Advertising Elasticity of demand = 0.2, Cross Elasticity of demand = 0.1. What do these imply for pricing and Advertising Policy of the organization?
(b) Identify the variables affecting the demand for any consumer good and formulate a demand function.
(c) Identify demand drivers for (a) Tractors (b) Passenger cars.
Q three (a) Distinguish ranging from avg. Cost and Marginal Costs?
(b) Fill in the subsequent table
Qty of
Production TFC TVC TC MC AFC AVC ATC
1 50 55
2 58
3 60.5
4 63
5 65
6 68
7 72.5
8 78
Q four (a) Explain the concepts of Production function, avg. Product & Marginal Product.
(b) Explain the legal regulations of diminishing returns to variable factor.
Q five What are the characteristics of
(a) Monopoly Market
(b) Perfect Competition Market
Why Perfect competition is liked as ideal form of market?
Q 6 Write short notes on any 2 of the following:
(a) Isoquants.
(b) Oligopoly
(c) Economies of Large Scale.
(d) Income Elasticity of Demand.
Q 7 State whether the subsequent statements are actual or false? Justify your ans.
(a) If Net current value is zero the project is rejected
(b) Payback period method is the best method of judging a capital expenditure proposal.
(c) A firm suffering losses in the short run will continue on to operate as long as total revenues are covering at lowest fixed costs.
| Earning: Approval pending. |
