BBA (Semester - 1st) MICRO ECONOMICS (BB -103)

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Roll No.......................

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

^!                             J-6344[N-0507/51]                                 [2957]

BBA (Semester - 1^st) MICRO ECONOMICS (BB -103)

     Time : 03 Hours                                                                                                            Maximum Marks: 60

                       Instruction to Candidates:

1)   Section - A is compulsory,
                           2)   Attempt any Four questions from Section - B.

Section - A

                                                                                                                                                                                            [10x2 = 20]

                                   a)    What is the scope of micro economics?

b)               Define opportunity cost

c)       What do you mean by utility?

                                   d)       What is the meaning of price elasticity of demand?

                                   e)       Show price effect with the help of indifference curve ?

                                   f)        What are the main assumptions oi utility analysis?

g)   Distinguish between fixed costs and variable costs.

h)   Show the relationship between Average Revenue (AR) and Marginal Revenue (MR).

i)    What are the features of perfect competition? j)    Define selling costs.

Section - B

[4x10 = 40]

Explain the importance of micro economics in business.

Q3)  What do you mean by demand? Give factors which determine demand of a commodity.

S3                                                                                                                                                                                                                 PT.O.

Q4)  What is the Law of Diminishing Marginal Returns

Q5)  Show consumer's equilibrium with the help of indifference curve analysis. Q6)  Discuss how price and output is determined under monopoly market? Q7)  Explain price and output determination under cournot mode}.

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J-6344JN-0507/51]