Description
TUTOR MARKED ASSIGNMENT
COURSE CODE : BCOG-171
COURSE TITLE : PRINCIPLES OF MICRO ECONOMICS
ASSIGNMENT CODE : BCOG-171/TMA/2024-25
COVERAGE : ALL BLOCKS
Maximum Marks: 100
Note: Attempt all the questions.
Section-A
(Attempt all the questions. Each question carries 10 marks.)
Q.1 Explain the concept of a Production Possibility Curve. Enumerate its
assumptions. Illustrate it with the help of an example.
(10)
Q.2 Explain the law of demand with the help of a demand schedule and a demand
curve. Also explain its exception using the distinction between substitution and
income effects.
(10)
Q.3 Distinguish between Perfectly Elastic, Perfectly Inelastic, Unit Elastic, Inelastic
and Elastic supply curves with the help of diagrams.
(10)
Q.4 What do you mean by marginal rate of substitution? Why does marginal rate of
substitution of X for Y fall when quantity of X is increased?
(10)
Q.5 How is the Long run Average cost curve derived from Short run Average cost
curves? Use suitable diagrams
(10)
Section-B
(Attempt all the questions. Each question carries 6 marks.)
Q.6 What are the characteristics that have to be considered while identifying a
Market structure?
(6)
Q.7 Why should equilibrium between marginal cost and marginal revenue be a
necessary condition for equilibrium of a firm?
(6)
Q.8 Distinguish between interest and profit. Is it not correct to say that both are
earned by the capitalists for the capital they invest in the production process?
(6)
Q.9 What are the various sources of profits? Do you think that all profits can be
explained in terms of the monopoly power exercised by the producer?
(6)
Q.10 What is full-cost pricing principle? Does it lead to a higher than optimum
production?
(6)
Section-C
(Attempt all the questions. Each question carries 5 marks.)
Q.11 Write a short note on the claimed superiority of indifference curves analysis over
utility analysis.
(5)
Q.12 How the various tools of government intervention are applied while determining
the price?
(5)
Q.13 What is backward bending supply curve? Explain with an example. (5)
Q.14 Define functional distribution and distinguish it from personal distribution.
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