[BA 3rd Sem Question Papers, Dibrugarh University, 2015, Economics, Major, Microeconomics - II]
1. Write answer/Choose the most appropriate answer of the following: 1x8=8
- Which of the following is not a characteristic of a ‘price taker’?
- TR = P x Q.
- AR = Price.
- Negatively sloped demand curve.
- Marginal Revenue = Price.
- Oligopolistic industries are characterized by
- A few dominant firms and substantial barriers to entry.
- A few large firms and no entry barriers.
- A large number of small firms and no entry barriers.
- One domain firm and less entry barriers.
- The long-run equilibrium outcomes in monopolistic competition and perfect competition are similar because in both market structures
- The efficient output level will be produced in the long run.
- Firms will be producing at minimum average cost.
- Firms realize all economies of scale.
- None of the above.
- Discriminating monopoly implies that the monopolist charges different prices for his commodity
- From different groups of consumers.
- For different uses.
- At different places.
- Any of the above.
- A firm encounters its ‘shutdown point’, when
- AC = price at the profit maximizing level of output.
- AVC = price at the profit maximizing level of output.
- AFC = price at the profit maximizing level of output.
- MC = price at the loss minimizing level of output.
- Define general equilibrium.
- The marginal productivity theory of distribution is
- An explanation of factor-pricing.
- An explanation of national income determination.
- An explanation for personal income distribution.
- None of the above.
- In the Ricardian theory of economic rent, transfer earnings of land are presumed to be
- Equal to rent.
- Negative.
- Positive.
- Zero.
2. Write short notes on any four of the following (within 150 words each): 4x4=16
- Rules for profit maximization.
- Price discrimination.
- Unique characteristics of oligopoly market.
- Classical theory of interest.
- Interdependence of markets.
Answer the following questions (within 500 words each):
3. (a) Explain with the help of suitable diagrams, the long-run equilibrium of the firm and the industry under perfect competition. 6+6=12
Or
(b) Describe the process of derivation of the supply curve of the firm and the industry in the short-run under perfect competition. 6+6=12
4. (a) What is Monopsony? Explain the sources of Monopsony power. What are the differences between Monopsony and Monopoly? 2+6+3=11
Or
(b) Explain with examples, the concepts ‘natural monopoly’ and ‘price regulation’ of monopoly. 5+6=11
5. (a) Distinguish monopolistic competition from perfect competition. Prove that firms under monopolistic competition will be less than optimum size in the long run. 4+7=11
Or
(b) What are the differences between monopoly market and oligopoly market? Explain with examples, the types of oligopoly. 4+7=11
6. (a) Discuss the Euler’s theorem of distribution of factor income. 11
Or
(b) Distinguish between rent and quasi rent. Explain the Ricardian theory of rent. 3+8=11
Also Read: Dibrugarh University Question Papers
7. (a) Discuss with a diagram, how the competitive markets attain efficiency in exchange. 11
Or
(b) Write explanatory notes on the following: 5+6=11
- Market failure.
- Efficiency in production in competitive markets.
***
Post a Comment
Kindly give your valuable feedback to improve this website.