BCOG-171 EM 2023-24 SOLVED ASSIGNMENT

Description

TUTOR MARKED ASSIGNMENT
COURSE CODE : BCOG-171
COURSE TITLE : PRINCIPLES OF MICRO ECONOMICS
ASSIGNMENT CODE : BCOG-171/TMA/2023-24
COVERAGE : ALL BLOCKS
Maximum Marks: 100
Note: Attempt all the questions.
Section-A
(This section contains five questions of 10 marks each)
Q.1 Explain the concept of a Production Possibility Curve. Enumerate its
assumptions. Illustrate it with the help of an example.
(10)
Q.2 Distinguish between positive and normative economics. Which one should be
preferred and why?
(10)
Q.3 Explain the law of variable proportions with the help of total, average and
marginal product.
(10)
Q.4 What is backward bending supply curve? Explain with an example. (10)
Q.5 Explain an industry’s short period equilibrium in conditions of perfect
competition.
(10)
Section-B
(This section contains five short questions of 6 marks each)
Q.6 Explain the case of unitary elastic demand curve. (6)
Q.7 What are the main determinants of Elasticity of Supply of a Commodity? (6)
Q.8 How the various tools of government intervention are applied while determining
the price?
(6)
Q.9 What is joint profit maximization? How is it sought to be achieved under
oligopoly?
(6)
Q.10 Define functional distribution and distinguish it from personal distribution. (6)
Section-C
(This section contains four short questions of 5 marks each)
Q.11 What are the assumptions of indifference curves approach? (5)
Q.12 Discuss the concepts of money wage and real wage. (5)
Q.13 What are the properties of an Isoquant? (5)
Q.14 Discuss the Ricardian theory of rent.