M.A. DEGREE EXAMINATION, APRIL 2018
First Semester
Economics
MICRO ECONOMICS — I
(CBCS 2017 onwards)
Time 3 Hours Maximum 75 Marks
Part A (10 x 2 20)
Answer all questions.
1. Define normative economic.
2. What do you mean by Economics?
3. Define Indifference curve.
4. What is budget line?
5. What is production function?
6. Define 'Economies of Scale'.
7. What is Bi-lateral monopoly?
8. Give the meaning of Oligopoly.
9. State kinked demand curve.
10. Define Average Cost?
Sub. Code
7MEC1C1
AFS-0495
2
Sp 1
Part B x 5 25)
Answer all questions, choosing either or
11. List out the various Economic problems in India at
present.
Or
Explain the various concepts used for model
building in economics.
12. Explain the consumer equilibrium with use of
indifference curve.
Or
Explain the assumption of revealed preference
theory of demand.
13. Write a note on the law of returns to scale in
production.
Or
Explain the properties of Cobb-Douglas production
function.
14. Bring out the role of selling costs in monopolistic
competition?
Or
Explain the Chamberlin excess capacity model.
15. Explain with the help of diagram Baumol's model of
sales maximization.
Or
Explain the Average cost pricing model.
AFS-0495
3
Sp 1
Part C x 10 30)
Answer any three questions.
16. Critically examine the Deductive and Inductive method of
economic analysis.
17. Evaluate Hicks Revision of Demand theory.
18. Explain the law of variable proportion with help of
diagram and describe at which stage producer get
maximum satisfaction.
19. Critically examine price discrimination in monopoly
market. How market gets abnormal profit.
20. Discuss the Bain's Limit pricing theory.
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