Guru Gobind Singh Indraprastha Vishwavidyalaya 2011 B.B.A Business economics - 1 - exam paper
(Please write your Exam Roll No.) Exam Roll No. ...Q...<Z...lbJi f $ff
First Semester |BBA/BBA(B&l)/BBA(TTM)/(MOlvi)| December-20! i____
\Paper Code: BBA(B&I)/(TTM)/(M6M) 103 Subject: Business Economics-/
Time : 3 Hours __ _ Maximum Marks :75
I Note: Attempt any five questions.
Distinguish between any five of the following:- (3x5=15)
Microeconomics and Macroeconomics (b) Traditional Economics and Busines Economics.
Normal Profit and Abnormal Profit.
Price elasticity of demand and Cross elasticity of demand.
\J&f Explicit cost and Implicit cost.
iornogeneous goods and Differentiated goods.
(a) Distinguish between movement on a demand curve and shift of a demand curve. Make use of demand equations and graphs. (8)
(b) Why docs a normal demand curve always slope downwards? (7)
Aj(4r)fExplain in brief, using diagrams. The properties of an indifference curve, (6) Explain with the help of indifference curves the effect of an increase in the level of income on consumer's equilibrium. (9)
yffwhat is a production function? Distinguish between short-run production function and long-run production function. (6)
jfef'lixplain the law of returns to scale with the help of iso-quants. (9)
What do you mean by factor-proportions? Explain with the help of a schedule and a graph the law of variable proportions. (10)
What are inferior goods? Explain with the help of a graph, (5)
With the help of the following output schedule, draw the following curves:-
(a) Average cost curve (bj Average fixed cost curve
(c) Marginal cost curve
Output Schedule
| |||||||||||||||||||||||||||
|
Price of X-input is Rs.100 per unit. Price at Y-input in Rs.200 per unit. (15) |
(a) At the equilibrium level of output a perfectly competitive firms marginal revenue is equal to marginal cost but its average revenue is less than average cost. Should the firm continue to produce or should it close down? (10)
(b) What is break-even point of a perfectly competitive firm? Illustrate graphically. (5)
Distinguish between the long-run equilibrium of a monopoly firm monopolistic competitive firm.
and a (15)
kitick'kieick-k'kick
\**\\?
|
Attachment: |
| Earning: Approval pending. |
