Madras University (UnOM) 2006 B.Com UNIVESITY OF MADRAS - Question Paper

APRIL 2007 21602/ZZ1A
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Time:Three hours Maximum :100 marks
SECTION-A
Answer any TEN ques.
1.Explain Adam Smith's defnition of Economics.
2.What is Cost plus pricing ?
3.Define Supply?
4.Wha tis an Oligopoly?
5.List the feature of Perfect Competition.
6.Define Selling Cost.
7.What is imperfect competition?
8.Draw Short-term avg. cost and Long run avg. cost curves.
9.What is an economic system?
10.When is Price discrimination possible?
11.Wha tis elasticity of demand?
12.State the "Law of Returns".
SECTION-B
Answer any 5 Q uestions
13.Explain the role and resposibilities of business economist.
14.Explain the legal regulations of Demand.
15.Analyse the various classifications of economies of scale.
16.Explain and illusterate the legal regulations of variable proportions.
17.Explain the characteristics of Oliopology.
18.Discuss the various kinds of Price Discrimination.
19.What are the factors determining elasticity of demand?
20.Explain through indifference curve technique how the
variation of income reacts on consumer's demand for a commodity.

SECTION-C(20*2=40 MARKS)
Answer any 2 ques.
21.Critically examine the "Law of Diminishing Marginal Utility".
22.What is Monopolistic Competition? How are price and
output determined under monopolistic competition?
23.What are the features of perfect competition?
How price and output are determined in the market
24.Explain the concept of Break even point. Point out it sassumptions and uses.
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Earning:   Approval pending.