Master of Commerce (M.Com.) MCOM BUSINESS MANAGEMENT SEM I ECONOMICS FOR BUSINESS DECISION Question Paper - Mumbai University | munotes

Questions asked in this paper

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1. Q2 Explain the equilibrium of a discriminating monopolist with the help of a suitable diagram. 7 marks
   • b) Explain with help of suitable diagram equilibrium of an oligopoly firm facing kinked demand 08 Explain the methods of measuring monopoly power. 07
   • d) Alen and Jack in selling. They were caught by Drug Enforcement 08 Administration but they had insufficient proof and hence they require a testimony from either of them to go ahead with the prosecution. Both of them will be interrogated separately and do not come in any kind of contact what so ever Both the suspects do to end up in jail Following pay off matrix for Alen and Jack Basis of above pay off used in the game theory, Dis s both suspects Alen and Jack Paper Subject Code: 71802 Economics for Business Decision
2. Q4 a) State whether the following statements are true or false 7 marks
   • i) Business economics is the applications of economics to business decisions
   • ii) In a market economy prices act as incentives and signals
   • iii) Profit is maximized at a point where total revenue is greater than total cost
   • v) The imperfect information is a source of market failure
   • vi) Market failure does not occur in the case of public goods
   • vii) Allocative efficiency occurs when goods and services are distributed according to consumer
   • b) Give precise meaning of the following 5 08
3. Q4 Write short note on any three of the following 15 marks
   • a) Scope of Business Economics =
   • c) Expansion path
   • d) External Economies
   • e) Cartels

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