Description
TUTOR MARKED ASSIGNMENT
COURSE CODE : BCOG-171
COURSE TITLE :PRINCIPLES OF MICRO ECONOMICS
ASSIGNMENT CODE:BCOG-171/TMA/2026-27
ALL BLOCKS Note: Attempt all the questions. Maximum Marks: 100 Section – A (Attempt all the questions. Each question carries 10 marks
1.Explain fully the concept of monopolistic competition. What are the reasons behind the difficulties which come in the way of free entry of firms into a market?
2.What is meant by returns to scale? Discuss the economies and diseconomies of scale.
3.Explain the law of demand with the help of a demand schedule and a demand curve.
4. Define the concept of Marginal cost. What is the relation between average cost and marginal cost? Use suitable diagrams.
5. State the Law of Equimarginal Utility. Discuss its limitations.
Section – B (Attempt all the questions. Each question carries 6 marks.)
6. Explain the fundamental/central problems of an economy.
7. What is the elasticity of supply? Discuss the important determinants of the elasticity of supply.
8. Define Indifference Curve. Explain the assumptions of the indifference curve.
9. Define the perfect competitive market. Explain the characteristics of perfect competition.
Q.10 Discuss the three methods of raising wages.
Section – C (Attempt all the questions. Each question carries 5 marks.)
Q.11 What do you understand by factors of production? Briefly explain each of the four main factors.
Q.12 Distinguish between Microeconomics and Macroeconomics.
Q.13 What is meant by price elasticity of demand? Briefly explain the determinants of price elasticity of demand.
Q.14 What is the theory of Production? Explain the relevance of the theory of production in various fields.
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