Bachelor Of Management Studies (BMS) SEM I 2019 20 Nov 2019-20 ECONOMICS Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 Answer the following 15 marks
   • A) Fillin the blanks (Attempt any 8) 3
   • a) When price of a commodity increases, the aiso increases was propounded by d} can incur heavy expenditure on advertisement method involves contacting each anc every’ buyer Soft drinks are example of market structure
   • f) In the long run production function all factors are
   • g) market is theoretical concept
   • h) Kinked demand curve is found in market structure
   • B) Match the following 7
2. Q1 Super normal profits in-perfect a)Long Run
3. Q2 Normai profits in perfect competition | b)Short Run
4. Q7 Point Methods Car and petrol
5. Q2 (A) and (B) or (C) and (D) (i5 Marks)
   • A) What are the exceptions of Law Of Demand. 8
   • B) The demand function for a product is Qd = 4000 — 0.20p. 7
   • C) Explain with the help of diagram point and arc elasticities of demand 3
   • D) Define demand forecasting and its need for organization 7
6. Q3 Attempt (A) and (B) Or (C) and (D) 15 marks
   • A) What is an isoquant? Explain its properties using diagrams. 8
   • B) Discuss the Law of return to scale. 7
   • C) Explain diseconomies to scale. And its types. (8
   • D) Explain the features of monopolistic competition. : Q4)Attempt (A) and (B) Or (C) and (D) (15 Marks) 7
   • A) Explain the concept of long run equilibrium of a firm in perfect competition with the help of diagram. (8 Marks)
   • B) Define monopolistic competition and explain its features. (7-Marks) Explain the role of advertisement under monopolist competition. (8Marks) Distinguish between marginal cost pricing and full cost pricing . (7 Marks)
7. Q5 Write Short : (Any Three)(5 Marks each) 15 marks
8. Q1 Incremental cost
9. Q2 Price discrimination
10. Q3 Price Elasticity
11. Q4 Explicit Cost
12. Q5 Price Leadership

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