2017
(August)
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)
Mention one basic problem of economy.
2)
Write the mathematical formula for measuring
cross elasticity of Demand.
3)
Draw a hypothetical iso-cost line.
4)
Point out one difference between short run
average cost curve and long run average cost curve.
5)
Write one characteristic of a perfectly
competitive market.
6)
Write one factor that determines supply of a
commodity.
7)
Write the full form of MRTS.
8)
What is the name of the area covered by the
ridgelines?
9)
Mention one difference between Economic rent and
Quasi-rent.
10) Who
is profounder of Liquidity Preference theory of interest?
(B)
Write short notes on: (any four) 5x4=20
1)
Elasticity of Demand and its types.
2)
Laws of Returns to scale.
3)
Difference between Perfect Competition and
Monopoly.
4)
Oligopoly and its types.
5)
Components of net profit.
6)
Marginal productivity theory.
2.
(a) What is Business Economics? Discuss about its characteristics and scope. 2+5+5=12
Or
(b) Describe the different methods of measuring price
elasticity of Demand. 12
3.
(a) Describe the law of variable proportion with the help of suitable schedule
and diagram. 12
Or
(b) What is iso-quant? Explain with the help of iso-quant
and iso-cost lines how a producer achieves optimum combination of factors. 4+8=12
4.
(a) Explain how a business firm under perfectly competitive market can achieve
short-run equilibrium. 12
Or
(b) Elaborately write a note on different types of ‘Market
Structure’? 12
5.
(a) Explain how wage rate is determined under perfectly competition in the
short run. 12
Or
(b) Critically examine the Ricardian theory of rent. 12
6.
(a) Discuss Loan able Fund Theory of Interest. Point out its weakness. 8+4=12
Or
(b) “Profit is the reward for bearing Uncertainty”. –
Discuss the statement. 12
***
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