Gauhati University Question Papers
BUSINESS ECONOMICS (May-June’ 2016)
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 business economics?
b) Define
demand.
c) What
is marginal cost of production?
d) Define
GDP at factor cost.
e) What
do you mean by dumping?
f) What
do you mean by marginal physical productivity of a factor?
g) What
is shut-down point of a firm?
h) What
is selling cost?
i)
Draw a total fixed cost curve.
j)
What is demand forecasting?
2.
Answer in brief (within 30 words each): 2x5=10
a) What
is production possibility curve?
b) State
the determinants of demand.
c) What
is excess capacity of a firm?
d) What
is production function?
e) Give
two differences between normal profit and supernormal profit.
3.
Answer any four of the following: 5x4=20
a) Discuss
the scope of Business economics.
b) Analyse
the basic problems of an economy.
c) Discuss
the main features of monopolistic competition.
d) Explain
the cost-output relation in short run.
e) Analyse
the different profit policies followed by public enterprises.
4.
What is elasticity of demand? Discuss different methods of measurement of
elasticity of demand. 2+8=10
Or
What do you mean by national income? How is it computed? 3+7=10
5.
Explain the laws of returns to scale. 10
Or
Discuss the modern approach of cost. 10
6.
What is perfect competition? Discuss price and output determination process
under different market periods in perfectly competitive market. 2+8=10
Or
What are the characteristics of oligopoly? Determine price
and output under oligopoly with the help of kinked demand curve model. 4+6=10
7.
Explain the dynamic theory of profit. 10
Or
Profit is the reward for taking risk and bearing
uncertainty. Explain. 10
***
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