MCom MCom Accountancy SEM I 2019 20 Jan 2019-20 I ACCOUNTANCY ECONOMICS FOR BUSINESS Question Paper - Mumbai University | munotes

Questions asked in this paper

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1. Q1 questions are Compulsory
2. Q2 to the right indicate full marks
3. Q1 a) Explain Bandwagon and Snob effects on market demand. 8 marks
   • b) Describe the determinants of supply in brief. 7
   • c) Explain minimum floor and maximum ceiling pricing control. 8
   • d) Explain the consumer’s equilibrium with the help of indifference curve and price 7
   • a) State and explain the law of variable proportion
   • b) Discuss various types of internal and external economies of scale. ‘ Diagrammatically explain least cost factor combination for a given output. (08) From given information calculate TC, AFC, AVC, AC and MC if TEC is 50. (07) 7
4. Q3 a) Explain the short run equilibrium of a firm under perfect competition. 8 marks
   • b) Discuss the Dumping as an international price discrimination in the world Explain the reasons behind collusive oligopoly with reference to cartel with (08) 7
   • d) Read the following paragraph and answer the given questions. Ajay and Amay are arrested by city police in bank robbery case. The police do not have enough evidence to charge them of robbery. Both the suspects were interrogated separately in different rooms and not allowed in any kind of communication between them. However, the evidence is such that if both the suspects do not confess each will get 3 years of maximum sentence in prison. The officers promised each suspects that by confessing he or she will go free while the other suspects who does not confess will receive a full 20 years of sentence. If both suspects confess each one will get a mild punishment of 5 years 7
   • i) Discus the dilemma of both suspects
   • ii) What is the dominani strategy available to both suspects? lii) Prepare a pay-off matrix for suspects Ajay and Amay Paper Subject Code: 71802 for Business Decision
5. Q4 a) Chose the correct alternatives from the following and rewrite the
6. Q1 is known as the theory of distribution
   • ii) | Cost owned by the entrepreneurs himself is known as cost
   • a) Explicit b) Real is an universal economic problem
   • a) Wants b) Resources
   • c) Monopoly power All of the above
   • v) deals with
   • c) Households d) None of the above
   • vi) Production possibility curve consist aspect of production
   • b) Scarcity oice da) the above
   • vii) Marginal product is calculated by
   • b) Give precise meaning of the following :- 8
   • i) Incremental principle —
   • ii) Economic ii)
   • iv) Invisibtehand
7. Q4 Write short notes on any Three of the following :- 15 marks
   • a) Scarcity and efficiency principle
   • b) Sources of market failure Paradox of Bumper harvest
   • e) Sources of monopoly power

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