M.A. (Economics) Part I Sem I 2018 19 Jun 2018-19 M. A  Economics Micro Economics Question Paper - Mumbai University | munotes

Questions asked in this paper

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1. Q2 Figures to the indicate full marks
2. Q1 Answer any two of the following : 15 marks
   • a) Explain rational choice and revealed preference
   • b) Describe income effects and substitution effects with the help of diagram
   • c) Explain choice under uncertainty
   • d) Explain Roy’s identity and Slustsky Equation
3. Q2 any two of the following : 15 marks
   • a) Examine law of returns to scale
   • b) Explain Cobb-Douglas production function
   • c) Write an explanatory note on long run profit maximization
   • d) How firms minimize cost with multiple plants? Explain Answer any two of the following : 15
   • a) What are the features of perfect competition?
   • b) Explain short run equilibrium of a firm under perfect competition
   • c) Explain price and output determination under monopoly
   • d) Write a note on bilateral monopoly Answer any two of the following 15
   • a) Explain Walrasian equilibrium in a competitive economy
   • b) Examine Pareto efficiency and competitive markets
   • c) Write an explanatory note on “measuring the welfare effects of price changes”
   • d) Explain theory of second best in short
   • S) elt
   • U. 3 Slot

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