Introductory Microeconomics Question Paper' 2020 (Held in 2021) | B.A1st Sem (Hons)

 Dibrugarh University B.A 1st Sem Question Papers 
1 SEM TDC GEEC (CBCS) GE 1
2 0 2 1 (March)
ECONOMICS (Generic Elective)
Paper: GE–1
(Introductory Microeconomics)

Full Marks: 80

Pass Marks: 32

Time: 3 hours

The figures in the margin indicate full marks for the questions

1. Choose the correct answer/ Answer the following questions:                1×8=8

(a) What do you mean by scarcity in economics?

(b) The slope of a perfectly elastic supply curve is

1)         Horizontal.

2)         vertical.

3)         upward.

4)         None of the above.

(c) Indifference curve analysis is based on _____ marginal rate of substitution. (diminishing/increasing/constant)

(d) Give the meaning of consumer surplus.

(e) Marginal cost curve intersects average cost curve, when average cost curve is

1)         upward sloping.

2)         downward sloping.

3)         minimum.

4)         Maximum.

(f) Profit for a firm is maximum, when

1)         MR > MC.

2)         MR < MC.

3)         MR = MC.

4)         MR = MC = 0.

(g) When the wage rate decreases, the supply of labour

1)         increases.

2)         decreases.

3)         remains constant.

4)         None of the above.

(h) What is competitive market?

2. Write short notes on any four of the following (within 150 words each):            4×4=16

a)         Free market.

b)         Consumer’s surplus.

c)          Consumer’s optimum choice.

d)         Short-run cost.

e)         Marginal productivity of labour.

Answer the following questions (within 500 words each):

3. (a) Explain the subject-matter of microeconomics.      11

Or

(b) Write notes on the following:          5+6=11

1)         Scarcity and choice.

2)         Features of economic models.

4. (a) Explain with the help of suitable diagrams the impact of change in demand and supply on market equilibrium.11

Or

(b) What do you mean by producer’s surplus? Explain the concept of producer’s surplus with the help of suitable diagram.                2+9=11

5. (a) Explain consumer’s equilibrium with the help of indifference curve.             11

Or

(b) Explain the choice between leisure and consumption with the help of diagram.          11

6. (a) What do you mean by average revenue and marginal revenue? Why does a firm attain equilibrium when its marginal cost equals the marginal revenue?          2+10=12

Or

(b) “Long-run average cost curve is the envelope of various short-run average cost curves.” Explain.       12

7. (a) What is the demand for input? Explain the concept of marginal productivity of labour with the help of diagram.    2+9=11

Or

(b) Derive the demand curve of a firm for one variable input.     11

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