Bachelor Of Management Studies (BMS) SEM I 2018 19 Nov 2018-19 BUSINESS ECONOMICS Question Paper - Mumbai University | munotes

Questions asked in this paper

• (2) Figures to the right indicate full marks

1. Q1 (A) State whether following statements are true of false.(Any Eight) 8 marks
   • (1) An equation is true only for a specific value
   • (2) A variable is an identity whose quantity can change over a specified time period
   • (4) Geometric method measures the elasticity of demand at a point on the demand
   • (5) The concept of iso-quants is used to explain the expansion path
   • (6) Economies of scale help to reduce the cost of production
   • (7) A monopoly firm and industry are identical
   • (8) A firm under perfect competition incurs heavy selling cost
   • (9) Under marginal cost pricing, prices are determined on the basis of fixed cost
   • (10) Today firms produce a variety of products rather than a single product
   • (b) Match the following (Any seven) 7
2. Q5 | Law of returns to scale e. | Refers to change in one variable due Cartel h. | Cost incurred in producing an
3. Q10 | Marginal cost j. | show the pictoral presentation and the
4. Q2 (A) Explain the nature of demand curve under perfect competition. 8 marks
   • (B) Discuss the types of cross elasticity of demand. 7
   • (C) The demand schedule for an industry in a purely competitive market is given as The short-run supply schedule of the industry is as follows
5. Q1 What is the equilibrium price and quantity in the market? 4 marks
6. Q2 What is the total expenditure incurred by the consumers? 2 marks
7. Q3 Calculate the total revenue of the firms. 2 marks
   • (D) Discuss the survey method of demand forecasting. 8
8. Q3 (A) Explain the law of diminishing marginal returns with the help of an illustration and suitable diagram 8 marks
   • (B) Discuss the types of internal economies of scale. 7
   • (C) From the following cost function
9. Q2 Find out AC, ATC, and AFC if the output is 10. 4 marks
   • (D) Explain with the help of diagram the concept of break-even analysis. 7
10. Q4 (A) Explain the long-run equilibrium of price and output of the industry under 8 marks
    • (B) Discuss the equilibrium of a firm under monopolistic competition in 7
    • (C) Discuss the various types of price leadership. 8
    • (D) What is price rigidity? Discuss it with the help of suitable diagram. 7
11. Q5 (A) Discuss the merits and demerits of full cost pricing. 8 marks
    • (B) Explain the concept of transfer pricing without external market. 7 Write short notes (Any Three) 15
    • (a) Use of marginal analysis in decision making
    • (b) Types of price elasticity of demand
    • (c) Ridge lines
    • (e) Types of price discrimination

Read from the scan above, so a character or two may differ. The scan is the original.