Micro Economics, Question Paper of B.Com 1st Semester,Download Previous Years Question Paper 4

Roll NO. …………….

Total NO.  Of Question: 07

B.Com. (Sem. – 1)

MICRO ECNOMICS

Subject Code: BCOP – 103 (2011 batch)

Paper ID: [B1103]

Time: 3 Hrs                                                                   Max. Marks: 60

 INSTRUCTION TO CANDIDATES:

1.     SECTION –A is COMPULSORY.

2.     Attempt any FOUR questions from SECTION – B.

SECTION-A

1.     (a)     Differentiate between Micro and Macro economics.

(b)     Define Law of Equi-marginal utility.

(c)      Define Cross elasticity of demand.

(d)     Explain Expansion path.

(e)      Define Diseconomies of sale.

(f)      What do you mean by Market?       

 (g)    What the various assumption of Monopolistic competition.

          (h)     What is Price discrimination?

          (i)      What is quasi-rent?

          (j)      Write a brief note on the concept of Interest.

SECTION- B

2.     Discus the various properties of Indifference curve; also explain consumer’s equilibrium with Indifference curve.

3.     Define Isoquants. Explain producer’s equilibrium given the cost out lay.

4.     How short run traditional cost theory is different from modern short run cost approach?

5.     Explain equilibrium of the monopoly firm in the long run. Also discuss Excess capacity Hypothesis under monopolistic competition.

6.     Critically examine the Marginal Productivity Theory of wages.

7.     Differentiate between Gross & Net profits. Explain Risk theory of profit.