B.Com. LL.B. (Five Years) Sem 1 Micro Economics 2021 Mar Question Paper - KSLU

Questions asked in this paper

1. Q1 (a) Explain the scope of micro economics.
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2. Q1 (b) Write a short note on : Consumer surplus.
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1. Q2 (a) Explain the law of diminishing marginal utility with a help of diagram.
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2. Q2 (b) Write a short note on : Income effect and substitution effect.
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1. Q3 (a) What is Law of Demand ? Explain the reasons for the downward slope of Demand curve.
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2. Q3 (b) Write a short note on : Exceptions to the law of demand.
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1. Q4 (a) Define elasticity of demand. Explain the different types of elasticity with diagram.
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2. Q4 (b) Write a short note on : Law of supply.
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1. Q5 (a) Define production function. Explain the law of variable proportions.
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2. Q5 (b) Write a short note on : Iso-quants.
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1. Q6 (a) Explain the different concepts of cost.
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2. Q6 (b) Write a short note on : Law of returns to scale.
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1. Q7 (a) What is perfect competition ? Explain the price and output determination in perfect competition.
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2. Q7 (b) Write a short note on : Oligopoly and Duopoly.
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1. Q8 (a) Define Monopolistic competition. Explain the price and output determination in Monopolistic.
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2. Q8 (b) Write a short note on : Price discrimination.
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1. Q9 (a) Explain the marginal productivity theory of distribution.
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2. Q9 (b) Write a short note on : Quasi rent and transfer earning.
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1. Q10 (a) Explain the risk and uncertainity theory.
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2. Q10 (b) Write a short note on : Profit - Dynamic theory.
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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.