B.Com. LL.B. (Five Years) Sem 1 Micro Economics 2025 Jun (100 marks) Question Paper - KSLU

Questions asked in this paper

1. Q1 What is Micro Economics ? Explain its limitation and uses.
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2. Q2 What is Law of Demand ? Explain the reason for the downward slope and its exception.
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3. Q3 What is law of returns to scale ? Explain with the help of table and diagram.
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4. Q4 What is Monopolistic Competition ? Explain price and output determination under Monopolistic Competition.
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5. Q5 Explain marginal productivity theory of distribution.
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6. Q6 What is indifference curve ? Explain the properties with diagram.
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7. Q7 Explain law of supply with the help of table and diagram.
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Write short note on any two of the following :

1. Q8 (a) What are the reasons for wage differentials ?
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2. Q8 (b) Explain consumer's surplus.
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3. Q8 (c) Methods of measurement in price elasticity-percentage method and arc-method.
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Answer any two of the following :

1. Q9 (a) Explain basic problems of economy.
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2. Q9 (b) Explain equilibrium of the firm and industry under Perfect Competition.
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3. Q9 (c) What is Quasi Rent given by Prof. Marshall ?
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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.