B.Com. LL.B. (Five Years) Sem 1 Micro Economics 2017 Dec Question Paper - KSLU

Questions asked in this paper

1. Q1 Define Micro Economics. What are the uses and limitations of Micro Economics ?
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2. Q2 Explain the Law of Equi-Marginal Utility.
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3. Q3 What are indifference curves ? Explain the consumer's equilibrium with the help of an indifference curve.
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4. Q4 What is Cost function ? Explain short run cost curves.
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5. Q5 What is Perfect Competition ? Explain the price and output determination under it.
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6. Q6 Explain Law of variable proportions.
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7. Q7 Explain the classical theory of Interest.
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Write short notes on any two of the following :

1. Q8 (a) Quasi rent
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2. Q8 (b) Consumer Surplus
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3. Q8 (c) Production function.
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Write notes on any two of the following :

1. Q9 (a) Innovation theory of profits.
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2. Q9 (b) Features of Oligopoly Market.
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3. Q9 (c) Price Discrimination.
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Typed from the KSLU paper above. The paper is the original. Long reading passages are shortened here to their first and last lines and a summary.