Gauhati University Question Papers
BUSINESS ECONOMICS (May-June’ 2014)
Full Marks: 80
Time Allowed: 3 hours
Answer either in
English or Assamese
The figures in the
margin indicate full marks for the questions
1.
Answer the following questions: 1x10=10
a) What
is the root cause of economic problems?
b) Mention
one characteristic of Business Economics?
c) What
is excess capacity of a firm?
d) Define
gross domestic product of a country.
e) Mention
one determinant of demand.
f) Draw
a demand curve showing cross elasticity of demand for substitutes.
g) What
is marginal cost of production?
h) Law
of variable proportions is relevant to _____ period.
i)
The optimum size of a firm can exist only under
_____.
j)
According to “Profit Maximisation theory” of a
firm, management decides output level which maximizes the difference between
_____ and _____.
2.
Answer in brief (within 30 words): 2x5=10
a) What
are the two types of managerial problems?
b) Mention
two properties of Isoquants.
c) What
is selling cost?
d) What
is discrimination monopoly?
e) Give
two reasons for the need of a separate theory of factor pricing.
3.
Answer any four of the following: (within 200 words) 5x4=20
a) Explain
the scope of Business Economics.
b) Write
a note on Opportunity Cost.
c) Discuss
the differences between monopoly and perfect competition.
d) What
is marginal revenue productivity of a factor? Explain.
e) Distinguish
between gross profit and net profit.
f) Explain
the marginal uses of cost function.
4.
Answer the following within 600 words.
a) Explain
the different types of elasticity of demand. State the importance of the study
of elasticity of demand in Business Economics. 6+4=10
b) State
and explain the law of variable proportion with the help of diagram. 10
Or
Discuss the modern approach of Cost. 10
c) What
is Oligopoly? Explain the price and output determination process under
oligopoly with the help of a model.
4+6=10
Or
How is an equilibrium price
determined in a perfectly competitive market? Explain with the help of
diagram. ` 10
d) What
is profit? Discuss the different profit policies to be followed by the public
enterprises. 10
Or
Explain Hawley’s theory of profit. 10
***
Post a Comment
Kindly give your valuable feedback to improve this website.