Friday, May 6, 2016

Lucknow University B.A Part I Economics Paper I 2005 Question Paper

B.A ( Part I) Examination 2005
University / Board: Lucknow University - Old Question Papers / Previous Years Question Papers / Model Question Papers / Sample Question Papers
Course: B.A Economics
Economics
First Paper
Question Paper Description: 2005 Lucknow University B.A Economics Part I Paper II Question Paper
Time Allowed : Three Hours
Maximum Marks:50

Note: Total Number of questions to be answered is Five. Question no. 1 is compulsory.Attempt one question from each unit.Each question of the unit carries 7.5 marks.

1.Explain the following in brief: 20
(i) Gossen's first law
(ii) Partial and general equilibrium
(iii) Giffen goods
(iv) Cross elasticity of demand
(v) Law of variable proportions
(vi) Equilibrium conditions of a firm
(vii) Marginal productivity theory of distribution
(viii) Difference between Profit and Rent
(ix) Iso-product curves
(x) Substitution effect of a price change

UNIT I
2.Discuss the equilibrium of a consumer with the help of indiffrence curve technique.
3.What is consumer's surplus?Differentiate between the approach of Marshall and Hicks.

UNIT II
4.Discuss technical limits of production in short and long-run.
5.Analyze the shape of various cost curves in the short-run.

UNIT III
6.What is price-discrimination?Explain price-discrimination with suitable diagram.
7.Differentiate between monoply and perfect competition.Explain that monopoly price is always higher thatn competitive price.

UNIT IV
8.Discuss the Keynesian theory of interest.
9.Critically examine the Richardian theory of rent. 
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