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

Questions asked in this paper

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• 2) Figures to the right indicate full marks

1. Q1 Answer any two of the following 15 marks
   • a) Explain Utility functions and its existence
   • b) Critically examine indirect utility function
   • c) Explain Slutsky equation Answer any two of the following 15
   • a) Explain returns to scale along with varying proportions
   • b) Examine Cobb-Douglas production function
   • c) Write an explanatory note on short run cost curves
2. Q3 Answer any two of the following 15 marks
   • a) Explain price and output determination of a firm under perfect competition
   • b) Examine second fundamental theorems of welfare economics
   • c) Explain Market failure and theory of second best
3. Q4 Answer any two of the following 15 marks
   • a) Explain price and output determination under monopoly
   • b) Examine first and third degree price determination under monopoly
   • c) Briefly discuss on ‘natural monopoly’
4. Q2 got aor
5. Q3 AT

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