2016
(July)
COMMERCE
Paper: 105
(Business Economics)
Full Marks: 90
Time: 3 hours
The figures in the
margin indicate full marks for the questions
1.
(A) Answer the following: 1x10=10
1)
Write one feature of Monopoly market.
2)
Write one objective of Business Firms.
3)
What is price discrimination?
4)
What is Giffen Good?
5)
Mention the type of market where selling cost is
absent.
6)
Give an example of Fixed Cost.
7)
Which type of cost is zero when production is
nil?
8)
Who is the profounder of the Dynamic Theory or
Profit?
9)
Write one difference between the modern and
traditional theories of costs.
10) Who
gave the concept of Quasi Rent?
(B) Write short notes on: (any four) 5x4=20
1)
Basic problems of an economy.
2)
Characteristics of long-run cost curves.
3)
Law of variable proportions.
4)
Relationship between the Average Revenue and Marginal
Revenue curves in perfectly competitive market.
5)
Income elasticity of demand.
2.
(a) Explain the liquidity preference theory of Keynes. What are the limitations
of the theory? 8+4=12
Or
(b) Discuss the theory of profit given by Knight. 12
3.
(a) What is cross-elasticity of demand? Discuss the importance of
cross-elasticity of demand in business decision making. 4+8=12
Or
(b) What is price elasticity of demand? Explain the
determinants of elasticity of demand. 4+8=12
4.
(a) What do you mean by Isoquants? Explain the characteristics of Isoquants. 4+8=12
Or
(b) Discuss about internal economics and external economics.
6+6=12
5.
(a) Explain Baumol’s sales revenue Maximisation hypothesis. 12
Or
(b) Discuss the process of price and output determination in
Monopoly market. 12
6.
(a) Explain the marginal productivity theory of wage. 12
Or
(b) Describe the Ricardian theory of rent. 12
***
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