BCom In Accounting & Finance (BCAF) SEM I 2016 2017 Feb 2017 ATKT ECONOMICS Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Figures to right indicate full marks
2. Q1 A) State whether the following statements are True OR False. (Any 8) Microeconomics deals with the analysis of national income 8 marks
3. Q2 Supply and price are inversely related
4. Q3 All inferior goods are Giffen goods
5. Q4 Demand forecasts are essential to plan future production 5, Production refers to creation of utilities Fixed costs are independent of output
6. Q7 In the long run firms may enter or leave the industry
7. Q8 Advertisement educates the people to live a simple life
8. Q9 For price discrimination product must differ in quality
9. Q10 Pricing of a product should cover cost alone
   • B) the blanks (Any 7) 7
10. Q1 The law of demand is explain by a demand curve
11. Q2 The income effect of a price change
    • a) Is always positive (b) is always negative (c) may be positive or negative
12. Q3 When demand is relatively inelastic, price and total revenue changes take place in the
13. Q4 Method is used to bridge the opinions given by different experts
14. Q5 The slope of iso cost line is
15. Q6 The slope of the total revenue equals
16. Q7 The shut and break — even points are
17. Q8 Product in oligopoly is
18. Q2 A) Define ‘demand’, Explain the determinants of demand. 8 marks
    • B) Outline the nature of demand in different markets. 7
19. Q2 C) Explain the types of demand forecasting. 8 marks
    • D) Analyse law of variable proportion in detail. 7
20. Q3 A) Explain the difference between internai and external economies of scale, 8 marks
    • B) Explain the properties of iso — 7
21. Q3 C) Explain the meaning of break — even point and its diagrammatic determination. 8 marks
    • D) Explain the following cost concepts: Explain short run equilibrium of a firm under monopolistic competition. (8) ) 7
    • B) Define ‘perfect competition’. Explain long run equilibrium of a firm under Examine the role of advertisement in monopolistic competition. (8)
    • D) Define ‘Oligopoly’. Explain its characteristics
22. Q5 A) Explain the of price discrimination of monopolists. (2
    • B) Highlight the conditions for price discrimination. 4
23. Q5 Write short note on (Any 3)
24. Q1 Demand
25. Q2 Law of supply
26. Q3 Dumping ‘

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