Micro Economics Question Paper' 2022, Dibrugarh University B.Com 1st Sem Hons Question Papers

Microeconomics Question Paper 2022
Dibrugarh University BCOM 1^st SEM CBCS Pattern

COMMERCE (Generic Elective)

Paper: GE – 101 (Microeconomics)

Full Marks: 80

Pass Marks: 32

Time: 3 hours

The figures in the margin indicate full marks for the questions

1. Choose the correct alternatives:                           1x8=8

(a) AR and MR curves under perfect competitions are _______.

(1) parallel to X-axis.

(2) parallel to Y-axis.

(3) upward sloping.

(4) downward sloping.

(b) In case of inferior goods, the income elasticity of demand is _______.

(1) positive.

(2) negative.

(3) zero.

(4) infinity.

(c) At all points on a ‘ridge line’, the MP of a specific factor are _______.

(1) positive.

(2) zero.

(3) negative.

(4) infinity.

(d) Under which form of market a firm is price taker?

(1) Monopoly.

(2) Perfect competition.

(3) Monopolistic competition.

(4) Oligopoly.

(e) The ‘L’ shaped indifference curve signifies _______.

(1) substitutable goods.

(2) complementary goods.

(3) Both of the above.

(4) None of the above.

(f) The structure of the toothpaste industry in India is best described as

(1) perfectly competitive.

(2) monopoly.

(3) monopolistically competitive.

(4) oligopoly.

(g) Under price leadership, the leading firm may be

(1) low cost firm.

(2) dominant firm.

(3) most experienced firm.

(4) Any of the above.

(h) Public utility includes the supply of

(1) water.

(2) gas.

(3) electricity.

(4) All of the above.

2. Write short notes on (within 150 words each):               4x4=16

(a) Cash subsidy vs. Kind subsidy.

(b) Learning curve.

(c) Price discrimination.

(d) Prisoner’s dilemma.

3. (a) What is price elasticity of demand? What are the degrees of price elasticity of demand? Examine the role of price elasticity of demand in decision making of a firm. 2+4+8=14

Or

(b) Explain the revealed preference theory with appropriate diagram. In what respects is the revealed preference theory superior to indifference curve analysis?      10+4=14

Also Read: Microeconomics Question Paper Dibrugarh University

Microeconomics Question Paper 2019

Microeconomics Question Paper 2020

4. (a) What is a production isoquant curve? Discuss in what ways the least cost combination and output maximizing combination of factors are determined with the help of isoquant curve and isoclines.       2+12=14

Or

(b) Discuss the relationship between short-term and long-term average cost curves. Explain the L shape of the LAC curve.                    8+6=14

5. (a) What is normal price? Discuss how the long term equilibrium of industry and firm is determined under perfect competition.                      2+12=14

Or

(b) Describe how a monopolist determines his profit maximizing output and price in the long run. How can monopoly power be measured?                     10+4=14

6. (a) What factors cause the emergence of oligopoly? Explain the kinked demand curve analysis. Is there always price rigidity in kinked demand curve analysis?              4+8+2=14

Or

(b) Critically discuss the Baumol’s model of sales maximization with and without advertising.  14

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