Bachelor of Management Studies (B.M.S.) SEM II 2016 2017 Feb 2017 ATKT M.ECONOMICS Question Paper - Mumbai University | munotes

Questions asked in this paper

• 3, Figures to the right indicate full marks

1. Q1 Attempt Any Two (7.5 Marks Each) 15 marks
   • a) The demand for a commodity is when the price is Rs2.It declines to 30 units when the price increases to Rs4 per unit. Calculate the elasticity
   • b) What do you understand by law of demand? What are its exceptions?
   • c) Discuss the law of supply. Explain the difference * between movement within the curve and shilt of v & Q.2. Attempt Any Two (7.5 Marks Each) (15 Marks)
   • a) Ifthe fixed cost is Rs 30, calculate total variable cost and marginal cost form the following data,
   • b) What are isoquants? are their properties?
   • c) Define demand forecasting the various types of demand forecasting?
2. Q3 Attempt Any Two (7.5 Marks Each) 15 marks
   • a) Explain the features of perfect competition?
   • b) Explain the various degrees In monopoly?
   • c) Distinguish between perfect competition and monopoly? @ Any Two (7.5 Marks Each) (15 Marks)
   • a) Define Oligopoly. What are its features?
   • b) What is competition? What are its features?
   • c) Write anote on kinked demand curve?
3. Q5 Solve the following Case Study (15 Marks) (5 Marks Each) Mr, Stifen Walters, 4 chartered accountant , works for a well known accounting firm and earns Rs 10,00,000/- per year. He is planning to set UP his own practice. He estimates that rentiny an office \ ould cost him Rsl, per year, hiring an account assistant would cost Rs. 3, 00,000/- per year, renting the required office equipment would cost Rs |, 50,000/- per year, and purchasing the required supplies, pa) ing for other expenses would cost him another Rs 60000/-p.a- He estimated that his total revenue for the year would be Rs 20, 00,000 p.a. He is indifferent between keeping his job with the large firm and opening his
   • a) What are Mr. Stifen accounting costs of starting his own practice?
   • b) What are his economic costs? What will be is accounting profit and what will be his economic profit?

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