MA Economics OTHERS 2013 L And II Micro Eco Question Paper - Mumbai University | munotes

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Questions asked in this paper

Q3 (a) Discuss the relevance of infinitely repeated games in the context of the Folk
- (b) Explain the Cournot game with special reference to continuous
Q4 (a) Describe adverse selection under uncertainty with special reference to
- (b) the concept of adverse selection under the haterogeneous state of Lemons III and IV
- (a) Whatare the various categories of asymmetric information models ?
- (b) Describe the principal-agent problem in the context of the production game
- (a) Briefly describe the basic principles of welfare economics with the help of
- (b) State the first welfare theorem with production
Q7 Write notes on any two :—
- (a) theory of income distribution
- (b) Lexicographic preference
- (e) Theory of the second best

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