University of Mumbai 2007 B.A Economics il, - Question Paper
Economics paper-I
i e tUqgi
Con.-33-07. PK-500
( 3 Hours ) [ Total Marks : 100
N.B. (1) Atterrpt any five questions.
(2) Figures to the right indicate full marks.
(3) Draw neat diagrams wherever necessary.
1. Explain the nature and scope of micro-economics. What are its uses ? 20
2. (a) What are the main determinants of demand ? 10 (b) Explain the methods of measuring the elasticity of demand. 10
3. (a) Examine consumer's equilibrium with the help of indifference curve. io (b) Distinguish between the price effect and income effect. 10
4. (a) State and explain the law of variable proportions. 10 (b) Bring out the behaviour of short run cost curves with the help of io
diagram.
5. Write short notes on any two of the following '20
(a) Law of equi-marginal utility.
(b) Consumers surplus.
(c) Properties of indifference curves.
(d) Laws of returns to scale.
6. (a) What are the objectives of a firm ? 10
(b) Illustrate the Concept of Break-even analysis. 10
7. (a) Discuss the characteristics of perfect competition. 10 (b) Show how a firm under perfect competition attains equilibrium in the io
short-run.
8. Distinguish between monopoly and discriminating monopoly. 20 Explain the equilibrium of a firm under monopoly in the short-run.
9. What is Monopolistic Competition ? Explain the equilibrium of a firm 20 under monopolistic competition in the short-run and long-run.
10. Write short notes on any two of the following :- 20
(a) Average revenue and marginal revenue.
(b) Characteristics of monopoly.
(c) Price discrimination.
(d) Selling costs.
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