Master of Commerce (M.Com.) Part I SEM I 2022 2023 Jun 2023 ECONOMICS FOR BUSINESS DECISION Question Paper - Mumbai University | munotes

Questions asked in this paper

• 2. Figures to the right indicate full marks

1. Q1 (a) Explain the concepts of Snob appeal and Veblen effect. 8 marks
   • (b) Derive a demand curve with the help of price consumption curve. 7
   • (c) Discuss the minimum wage controversy 8
   • (d) Explain the paradox of bumper harvest 7
2. Q2 (a) Explain the law of variable proportions with suitable illustration. 8 marks
   • (b) Explain the derivation of average cost curve in the long period. 7
   • (c) Explain production function with two variable inputs and show economic region of production with the help of ridge lines. (8)
   • (d) Discuss the least cost factor combination with the help of suitable diagram. 7
3. Q3 (a) What is market structure? Enumerate the sources of market power. 8 marks
   • (b) Explain with suitable diagram profit maximisation under discriminating
   • (c) Discuss in detail the broad features of monopolistic competition. 8
   • (d) Examine the basic concepts of game theory 7
4. Q4 (a) Choose the right option from the following nature of economic and business problem is 7 marks
   • a) Identical
   • b) Similar
   • c) different
   • d) opposite Macro economics is not the study of
   • a) Inflation
   • b) unemployment
   • c) Growth
   • d) Individual firm
   • iii. Total revenue minus total costs (explicit plus implicit costs) is
   • a) Economic profit
   • b) Accounting profit
   • c) Negative profit
   • d) Unexpected profit Paper Subject Code: 71802 Economics for Business Decision
   • iv. The upward shift of Production possibility curve indicates
   • a) Larger combination of output
   • b) Larger combination of inputs
   • c) Lesser combination of input
   • d) Same combination of output
   • v. The private goods consumption
   • a) Rival
   • b) Non-rival
   • c) Non-exclusive
   • d) collective
   • vi. | Economic inefficiency can be corrected by reducing
   • a) Production
   • b) Employment
   • c) Wastages
   • d) Competition
   • vii. Any public spending may generate externalities
   • a) Positive
   • b) Negative
   • c) Both positive and Negative
   • (b) Give precise meaning of the following. 8
5. Q4 Write short note on any three of the following 15 marks
   • i. Scope of Business economics
   • ii. of supply Paper Subject Code: 71802 Economics for Business Decision
   • (2) ad sea
   • (S) SUR
6. Q2 (H) FIA HI
7. Q2 ST Paper Subject Code: 71802 Economics for Business Decision
   • S) am,

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