BCom In Accounting & Finance (BCAF) SEM I 2019 2020 Nov 2020 BUSINESS ECONOMICS I Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 State whether the following statement are True or False. (Any Eight) ) Economies is the science of choices Demand and price are inversely related 8 marks
2. Q3 goods are Giffen Relatively inelastic demand is represented by a vertical demand curve Long - term forecast take into account future changes
3. Q6 Two isoquant never intersects each other
4. Q7 Fixed proportion production is by constant return to scale
5. Q8 External economies may occur due to division cf labour Implicit cost are contractual payment made during the process of production
6. Q10 At Break even point TR > TC Match the following. (Any Seven) (7)
7. Q3 Perfect competition 3) Economies of information
8. Q5 External economies of scale 5) Managerial economics
9. Q2 Explain the scope of business economics. 8 marks
   • b) Explain determinants of demand. The demand function for commodity Rice is given by =100 The price (8) “of Rice is given in the below table Answer the following questions: 7
   • i. Calculate quantity of demand for Rice at given prices
   • ii. the help of demand schedule draw the demand curve. ili. Calculate price elasticity of demand when price changes from (3) Rs 2 to Rs 4.(Point Method) 2
   • d) Discuss how changes in demand can change equilibrium price. 7
10. Q3 Explain the types of 8 marks
    • b) Discuss the Law of Return to Scale in detail. the information given below 7
    • d) Discuss the business application of break-even analysis. 7
11. Q4 Explain the features of monopolistic competition. 8 marks
    • b) Discuss price Rigidity. (Kinky Demand Curve) Expiain the short-run equilibrium of a firm with excess- profit, (8) normal profit and loss 7
    • d) What is price-leadership? Explain the types and limitation of price leadership. 7
12. Q5 a) Explain cost-plus pricing concept with its methods. 8 marks
    • b) Highlight price-discrimination with different degrees. 7
13. Q5 Write short-notes on . (Any Three) 15 marks
14. Q1 Cross Elasticity of demand
15. Q4 Dumping
16. Q5 Types of production function

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