BBA (Sem. - ls0 MICRO ECONOMICS SUBJECT COnR : BB - 103 Paper ID : [C0203]

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Total No. of Questions : 07]                                                                                      [Total No. of Pages : 02

BBA (Sem. - l^s0 MICRO ECONOMICS SUBJECT COnR : BB - 103 Paper ID : [C0203]

[Note : Please fill subject code and paper ID on OMR]

Maximum Marks •

Instruction to Candidates:                                                                                                                         '

1)            Section - A is Compulsory.

2)            Attempt any Four questions from Section - B.

Section – A

a)            Define opportunity cost. b)     Define utility. What are its features.

c)    A 5

percent fall in price of chocolate leads to a 10 percent rise in its demand. What is the price elasticity of demand for chocolate.

d)      What is an individual demand schedule? How is it different from market
demand schedule?

e)        What is a budget line?
0    What is marginal rate of substitution?

g)       Define Marginal Cost (MC).

h)       Define Average Revenue (AR).

i)        What is price discrimination? Under what conditions is price

discrimination possible?

j)    What are the features of perfect competition? 
M-672 [1859]                                                                                                                        .                                                                   P.T.O. .

Section - B

(4x10-40)

Q2) What is micro economics? What is its scope?

OS) What are the reasons for inverse relationship between price of a commodity

and its quantity demanded?

4)       Explain how consumer attains equilibrium with the help of utility analysis?

5)       What is the law of variable proportions?

6)       How price and output is determined under monopoly?

7)       Explain how is price determined in case of price leadership under oligopoly

market?

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