Description
PRINCIPLES OF MICROECONOMICS – II
Tutor Marked Assignments
Course Code: BECC-132
Assignment Code: Asst /TMA /2023-24
Total Marks: 100
Assignment One
Answer the following Descriptive Category questions in about 500 words each. Each question carries
20 marks. 2
1. (a)Paul M Sweezy’s Kinked demand curve model explains price rigidity under
oligopoly. Explain how.
(b) Derive the demand for labour in a competitive market. How is the Value of Marginal
Product and Marginal Revenue Product Curve relevant in the derivation of labour
demand?
2. (a) Explain using diagram the shut down point and break even point for a perfectly
competitive firm.
(b) The price determination under Monopoly is different from Perfect Competition.
Explain how.
Assignment Two
Answer the following Middle Category questions in about 250 words each. Each question carries 10
marks. 3
3. (a) Discuss the differences between the Marshall’s Theory of rent and Modern theory of
rent.
(b) “The Heckscher- Ohlin theory explains the real cause of comparative costs
difference”, discuss the theorem with reference to its assumptions.
4. What is an economically efficient allocation. How does an economically efficient
allocation differ from an inefficient allocation?
5. Explain the game of Prisoner’s Dilemma. How does the end of the game change under
cooperative and non- cooperative behaviour of players.
Assignment Three
Answer the following Short Category questions in about 100 words each. Each question carries 6
marks.
5
6. What do you understand by TRIPs and TRIMs?
7. What is Market Failure? Under what conditions can the market fail?
8. Differentiate between accounting profits and economic profits.
9. Discuss with example the concept and features of Monopolistic Competition.
10. Discuss the ways to internalize an externality.
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