University of Calcutta 2010 B.Com -business economics and business enviroment- general. - Question Paper

BUSINESS ECONOMIC AND BUSINESS ENVIROMENT

2nd PAPER

GROUP-2
2010
FULL MARKS - 100.


GROUP - A
1. ans ANY 6 QUESTION:

(a)What happens to the prices in a competitive market if, other factors remaining unchanged,
the supply curve shifts to the right?

(b)what is meant by cross - price elasticity of demand?

(c)Define an isoquant.

(d)What is price-consumption cure?

(e)Define marginal product of a factor.

(f)What is the value of fixed cost in the long run?

(g)What do you mean by price discrimination?

(h)Draw the demand curve faced by the perfectly competitive firm.

(i)State the modern definition of rent.

(j)Mention 2 source of demand for money according to the Keynesian theory of liquidity preference.

2.ANSWER ANY 4 QUESTION:

(a)What is price elasticity of demand?How is it measured on a particular point on a negatively
sloped straight line demand curve?
(b)State the legal regulations of variable proportion in the theory of production.Explain the relationship
ranging from avg. product and marginal product of the variable factor under this legal regulations.

(c)How does a consumer attain equilibrium under indifference curve analysis?

(d)How would you derive the short run supply curve of a competitive firm?

(e)What is meant by monopolistic competition?Explain the relationship ranging from the proportional
demand and the perceived demand in the market.

(f)Why is the short-run avg. cost of a firm U-shaped?

(g)Discus briefly the risk-bearing theory of profit and indicate its limitations.

(h)Explain the modern theory of rent.

Earning:   Approval pending.