University of Madras: B.A Economics - Micro Economics May 2013 Question Paper

University of Madras Question Paper
MAY 2013 Question Paper
Question Paper Code : U/ID 1576/NDA
Course : B.A Economics
Subject : Micro Economics
Time : Three hours Maximum : 100 marks
SECTION A — (10 × 2 = 20 marks)
Answer ALL questions.
All questions carry equal marks.
Each answer should not exceed 50 words.
1. Define economic statics.

2. What is demand?

3. State the income effect.

4. What is production function?

5. What is marginal revenue?

6. State any two features of perfect competition.

7. What is oligopoly?

8. What do you mean by functional distribution?

9. Define rent.

10. What is gross interest?

SECTION B — (5 × 8 = 40 marks)
Answer any FIVE questions.
All questions carry equal marks.
Each answer should not exceed 300 words.
11. What is deductive method? Point out its merits.

12. Explain the law of diminishing marginal utility.

13. Explain the law of variable proportions.

14. Explain the short-run cost curves.

15. How does a monopolist fix the price for a product?

16. Explain Ricardian theory of rent.

17. Briefly explain the break-even analysis.

SECTION C — (2 × 20 = 40 marks)
Answer ALL questions.
All questions carry equal marks.
Each answer should not exceed 1,200 words.
18. (a) Explain the Samuelson's revealed preference theory.

Or
(b) Describe the marginal productivity theory of distribution.

19. (a) Explain the short-run equilibrium under perfect competition.
Or
(b) Describe the classical theory of interest.

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