Bachelor of Arts (B.A.) Sem III ATKT ECONOMICS (PAPER II) Question Paper - Mumbai University | munotes

Questions asked in this paper

• Please check whether you have got the right question paper

1. Q2 Each questions carries 20 marks
2. Q4 Use of scientific calculator is allowed
3. Q1 Attempt any two of the following
   • a) Discuss the concept of budget line and explain it graphically
   • b) Define Price effect. Explain the price consumption curve
   • c) The table given below shows the Marginal Utility derived by Amita from two goods: X The price of X is Rs. and Y is Rs. 3. She has an income of Rs. 14 to be spent on the two goods. Using above table answer the following
4. Q1 Given her income, what quantities of both goods will Amita purchase to maximize her
   • ii) What is the total utility obtained from good X and Y
   • iii) Explain the concept of cardinal and ordinal utility
5. Q2 Attempt any two of the following
   • a) Define Isoquant. What are the properties of Isoquant? Explain the law of variable proportions
   • c) Write a note on Cobb-Douglas production function Attempt any two of the following
   • a) Explain various concepts of revenue
   • b) Diagrammatically explain the long run average cost curve
   • c) Given Total Fixed Cost as calculate TC, AFC and MC from the information
6. Q4 Attempt any two of the following
   • a) What are the characteristics of a perfectly competitive market? Explain
   • b) Explain the long run equilibrium of a firm under perfect competition
   • c) Discuss the concept of Producer’s Surplus with the help of diagram Write a short notes on any two of the following
   • a) Income effect with normal goods
   • b) Concept and types of production function
   • c) Relationship between AR and MR under monopoly
   • d) Consumer’s surplus Please check whether you have got the right question paper
   • a) aM, ii)
   • iii) AT

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