BCom FY BCom Sem 1 BCom Sem 1 (2019 2020) Nov 2020 BUSINESS ECONOMICS Question Paper - Mumbai University | munotes

Questions asked in this paper

• iii) Figures to the right indicate full marks

1. Q1 A) Select the best answer from the given option and rewrite the statement 10 marks
   • 1) The sum of the dependent variables is
   • a) Total b) Average c) Marginal d) None of these
   • 2) The market clearing price is also called the
   • d) None of the above
   • 3) Under oligopoly the firm has a demand curve
   • 4) Expert opinion is a
   • a) Survey method b) Statistical method Both a and b
   • d) None of the above
   • 5) Productionreefer’s to
   • a) Production function b) Creation of utilities
   • 6) External economies occurs when
   • a) Size of firm expand b) Economy grows c) Size of industry expand
   • d) All of the above
   • 7) The rent of a is an example of
   • a) Variablecost b) Fixed Both a and b d) Neither a nor b
   • a) All cost are Cost tends to constant c) Shape of lac is always “L”
   • d) None of the above
   • 9) Accounting cost does not include
   • a) Payment made to the accountants b) Rent paid to the landlord Interest of own money invest by the entrepreneur
   • d) Both aandc
   • 10) causes lac curve to rise
   • a) Internal economies b) Economics and diseconomies is known as on profit loss
   • a) Marginal point b) Break — even point point of origin
   • d) None of the above
   • 12) Safety margin is the difference between C 1. B) Match the concept with its appropriate description (any 10) (10)
   • 1. Marginal concept a) Combination of labour and capital
   • 3. Market demand curve c) MR and Cost
   • 6. Elasticity of demand f) Oligopoly
   • 9. Total product
   • 12. Break ~ even analysis i) Denoted by
2. Q2 Attempt A and B or CandD - . 7 marks
   • a) Elucidate the scope of Business Economics. 8
   • b) Given the following data :
   • i) Calculate TR , AR and MR
   • ii) Explain the relationship TR , AR and MR
   • c) Explain how slopes of liner and non — liner curves are measured. 7
   • d) Discuss Market equilibrium with the help of diagram. 8
3. Q3 Attempt A and B or C and D 7 marks
   • a) Discuss income elasticity of demand
   • b) Calculate price elasticity of demand , if price falls from Rs . 200 to Rs. 100 and demand increases from 300 to 350 units 8
   • c) Explain importance of Elasticity of demand. 7
   • d) Discuss the significanceof Demand — Forecasting. 8
4. Q4 Attempt A and B or Cand D
   • a) Explainthe meaning of Isoquant and what its properties are. 7
   • b) Discuss Laws of Returns to scale with the help of diagram. 8
   • c) Discuss in detail internal economies of scale. 7
   • d) Explain types of production with the help of diagram. 8
5. Q5 Attempt A and B or C and D
   • a) Given TFC as 60 and the following data, calculate TVC , MC and AVC, AFC 7
   • b) Distinguish between Short run and Long run cost 8
   • c) Discuss the Short run average cost and cutput with the help of diagram. 7
   • d) Discuss the meaning of Break — even — point and explain its determination. 8
6. Q6 Attempt A andB or Write short notes (any 4 )
   • a) Define market and discuss Nature of demand curve on different market. 10
   • b) Discuss long run average cost curve with the help of diagram
7. Q6 Write short notes on (any 4) of the following : Changes in-supply 20 marks
   • 2. Steps in demand furcating
   • 3. Ridge lines
   • 5. Economiesof scope
   • 6. Business applications of break — even analysis

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