M.A. - I (Economics)(with Credits)-Regular-Semester 2012 / M.A. (Economics) (Choice Based) Regular Semester-20 Sem - I MAECO115-1 / EC 101 : Micro Economic Analysis-I : Compulsory Paper (New) / (Old) P. Pages : 6 GUG/S/17/3575 *0865* Micro Economic Analysis-I : Compulsory Paper (New) Notes : 1. All question solve. 2. All question carry equal marks. 1. What is the meaning of economic problems? Discuss the statement 'The basic economic problem is the problem of Choice'. Explain the importance and the merits demerits of the deductive and inductive methods of economic analysis. 2. Define indifference curve? State the characteristics and importance of indifference curve? Critically explain Samuelson's revealed preference theory of demand. 3. Answer the following question any two. a) Explain the total outlay method and point method of elasticity demand. b) Explain the law of diminishing marginal utility and its limitation. c) Explain the Bernoulli hypothesis. d) Explain Friedman-Savage Hypothesis. 4. Answer the following question any two. a) Explain the law of variable proportion. b) State the characteristics of Isoquants. c) Explain the Internal Economies and Diseconomies of scale. d) Critically explain the Cobb-Douglas production function with diagram. 5. Answer the following question all compulsory. a) Static and Dynamic Equilibrium. b) Law of Equi-marginal utility. c) Demand elasticity of substitution. d) Concept of long run cost. ************* GUG/S/17/3575 1 P.T.O
Micro Economic Analysis-I : Compulsory Paper (New) ÔãîÞã ãã :- 1. ÔãÌãà ¹ãÆÍ ã Ôããñ Ìãã. 2. ÔãÌãà ¹ãÆÍ ããâ ãã Ôã½ãã ã Øãì ã ããöñ ã. 1. ãããä ãã ãš ¹ãÆÍ ã ½Ö ã ãñ ãšã¾ã? ½ãìÊã¼ãî ã ãããä ãã ãš ¹ãÆÍ ã Öã ãä ãìã ãèþãã ¹ãÆÍ ã ããöñ' ¾ãã ãäìã ãã ããþãñ Ô¹ããäÓ ãšà ã ²ãã? ãããä ãã ãš ãäìãíêãñóã ããþ¾ãã ããøã½ã ã Ìã ãä ãøã½ã 㠹㠪 ããèþãñ ½ãÖ Ìã Ô¹ãÓ ãšâ ã Øãì ã-ªãñóã Ô¹ãÓ ãšàã. 2. ã Ô ã ãã Ìã ãš ½Ö ã ãñ ãšã¾ã? ã Ô ã ãã Ìã ãšãþããè ÌãõãäÍãÓ ãñ Ìã ½ãÖ Ìã Ô¹ãÓ ãšàã. Ôãù½¾ãì ãêãôã ãþ¾ãã ½ããØã ããè ããä¼ãì¾ã ã ããè ¹ãÔãâ ããè ãäôã ªãâ ããþãñ ãä ãšã ½ã ãš ¹ããäÀàã ã ãšàã. 3. ŒããÊããèÊã ¹ãÆÍ ããâþããè ãàñ ãäêãöã ãšãñ ã ãöãè ªãñ ã. ã) ½ããØããä ãþããè ãä ãâš½ã ã ã ¾ã ÊãÌããäÞã ãš ãã ½ãã¹ã ããþ¾ãã ãìš ã ̾ã¾ã ¹ã ª ããè Ìã ¼ãî½ããè ããè¾ã ¹ã ª ããè Ô¹ãÓ ãšàã. ºã) ããåöãôããè ãäôã½ããâ ã ¹ã¾ããñØããè ãã ãä ã¾ã½ã Ô¹ãÓ ãšâ ã ¾ããÞ¾ãã ½ã¾ããêã ãäêãöã. ãš) ºãÀ ããñêããèþããè ¹ã ãšê¹ã ãã Ô¹ãÓ ãšàã. ) ãä¹ãæš ½ã ã-ôãñìãñ ãþããè ¹ããäÀ ãšê¹ã ãã Ô¹ãÓ ãšàã. 4. ŒããÊããèÊã ¹ãÆÍ ããâþããè ãàñ ãäêãöã ãšãñ ã ãñöãè ªãñ ã. ã) ºãªÊã ¾ãã ¹ãƽãã ããþãã ãä ã¾ã½ã Ô¹ãÓ ãšàã. ºã) Ôã½ã ¹ããä ã Ìã ãšãþããè ÌãõãäÍãÓ ãñ Ô¹ãÓ ãšàã. ãš) ¹ã㪠ãã ããèêã ãâ ãøãã ã ãä½ã ãì¾ã¾ã ãã Ìã ããä½ã ãì¾ã¾ã ãã Ô¹ãÓ ãšàã. ) ãšãùºã ØÊãÔã ¹ãŠÊã ããþãñ ãã ãðš ããèªáìããàã Ô¹ãÓ ãè ãšà ã ãšâ ã ãä ãšã ½ã ãš ¹ããäÀàã ã ãšàã. 5. ŒããÊããèÊã ¹ãÆÍ ããâþããè ããñ ã ¾ãã ã ãàñ ãäêãöã. ã) Ô ãõãä ã ãš Ìã Øããä ã½ãã ã Ôãâ ãîêã ã. ºã) Ôã½ã-ãäÔã½ããâ ã ¹ã¾ããñØããè ãã ãä ã¾ã½ã. ãš) ½ããØããä ãþããè ¹ãÆãä ãô ãã¹ã ã ÊãÌããäÞã ãš ãã. ) ãäªüãã ãšãêããè ã ŒãÞããÃÞããè Ôãâ ãšê¹ã ãã. ******************* GUG/S/17/3575 2
Micro Economic Analysis-I : Compulsory Paper (New) ÔãîÞã ãã ú :- 1. Ôã¼ããè ¹ãÆÍ ã ããä ãìãã¾ãã Öõý 2. Ôã¼ããè ¹ãÆÍ ããò ãšãñ Ôã½ãã ã Øãì ã Öõý 1. ãããä ãã ãš ¹ãÆÍ ã ãšã ½ã ãêãºã ã ¾ãã Öõý ½ãìÊã¼ãî ã ãããä ãã ãš Ôã½ãÔ¾ãã ¾ãÖ ¹ãÔãâªØããè ãšã ¹ãÆÍ ã Öõ ƒôã ãšãè ÞãÞããà ãä ãš ããè. ãã ããê ãš ãäìãíêãñóã ã ãñš ãä ãøã½ã ã Ìãâ ããøã½ã ã ¹ãÆ ããêããè ãñš Øãì ãªãñóã Ô¹ãÓ ãšãèãä ã? 2. ªããäÔã ã ãã Ìã ãš ã ¾ãã Öõ? ªããäÔã ã ãã Ìã ãš ãšãè ãäìãíãñóã ãã Ìãâ ½ãÖ Ìã Ô¹ãÓ ãšãèãä ã ý Ôãù½¾ãì ãêãôã ã ãñš ½ããúØã ãñš ¹ãÆØããä ã ããä ã½ãã ã ãäôã ªãâ ã ãšã ããêããñþã ãã ½ã ãš ãäìãíêãñóã ã ãä ãš ããè ý 3. ãä ã½ ã ¹ãÆÍ ããñ ãñš ãà ãäêããäœã ý ãñšìãêã ªãñ. ã) ½ããúØã ãšãè ãä ãâš½ã ã ã ¾ã ÊããñÞã ½ãã¹ã ã ãšãè ãìš ã ̾ã¾ã ¹ãÆ ããêããè Ìãâ ¼ãî½ããè ããè¾ã ¹ãÆ ããêããè ãäêãœãñý ºã) ÅÖãÔã½ãã ã ãäôã½ããâ ã ¹ã¾ããñØããè ãã ãä ã¾ã½ã ããõà ã ãšãè ½ã¾ããêã Ô¹ãÓ ãšãèãä ã ý ãš) ºãÀ ããñêããè ãšãè ¹ãÆã ã ãšê¹ã ãã Ô¹ãÓ ãä ãšãä ã ý ) ãä¹ãæš ½ã ã ÔãñÌãñ ã ãšãè ¹ããäÀ ãšê¹ã ãã Ô¹ãÓ ãä ãšãä ã ý 4. ãä ã½ ã ¹ãÆÍ ããñ ãñš ãà ãäêããäœã ãñšìãêã ªãñ. ã) ¹ããäÀÌã ãã ããäíãêã ã ãì¹ãã ã ãä ã¾ã½ã Ô¹ãÓ ãšãèãä ã ý ºã) Ôã½ã ¹ã㪠Ìã ãš ãšãè ãäìãíãñóã ãã ãäêãœãñý ãš) ¹ã㪠㠽ãã ã ½ãñ ãâ ãøãã ã Êãã¼ã ã ãã Öããä ã¾ããñ ãšãñ Ô¹ãÓ ãä ãšãä ã ý ) ãšãùºã- ØÊãÔã ¹ã㪠㠹ãŠÊã ã ãäþã ãªáìããàã ªÍããà ù Ìãâ ããêããñþã ãã ãšàñ. 5. ãä ã½ ã ¹ãÆÍ ããñ ãñš ãà ãäêãœããñ ããä ãìãã¾ãã. ã) Ô ãõãä ã ãš Ìã Øããä ã½ãã ã Ôãâ ãìêã ã. ºã) Ôã½ããäÔã½ããâ ã ¹ã¾ããñØããè ãã ãä ã¾ã½ã. ãš) ¹ãÆãä ãô ãã¹ã ã ãä ãš ½ããúØã ÊããñÞã. ) ãäªüãã ãšãêããè ã ÊããØã ã. *************** GUG/S/17/3575 3 P.T.O
Micro Economic Analysis-I : Compulsory Paper (Old) Notes : 1. All questions are compulsory. 2. All question carry equal marks. 3. Draw neat diagrams wherever necessary. 1. Critically explain the Revealed preference theory of demand. How far it is superior to other theories of demand. State and explain the law of Equimarginal utility by chart and diagram. 2. Explain the various methods of measuring the price elasticity of demand. Discuss the Hicks logical ordering theory of demand. 3. Write shots answers in the following any two. a) Explain the merits of the deductive and inductive methods of Economic analysis. b) Explain the demerits of the general and partial equilibrium methods of Economic analysis. c) State the assumptions of Walras model of general equilibrium. d) State the basic Economic problem-choice and scarcity. 4. Write short answers in the following any two. a) State the law of variable proportions and its importance. b) State the characteristics of Iso-quant curves. c) State the internal economies and diseconomies of scale of production. d) Explain on Cobb-Douglas production function. 5. Answer the following question all compulsory. a) What is mean by static equilibrium. b) State the law of diminishing marginal utility. c) Write short note on Income elasticity. d) State the short note on production function. ************* GUG/S/17/3575 4
Micro Economic Analysis-I : Compulsory Paper (Old) ÔãîÞã ãã :- 1. ÔãÌãà ¹ãÆÍ ã Ôããñ Ìãã. 2. ÔãÌãà ¹ãÆÍ ããâ ãã Ôã½ãã ã Øãì ã ããöñ ã. 3. ããìãî¾ã ãš ãñ ãñ ãã ãðš ¾ãã ãšã ãì¾ãã ã. 1. ½ããØã ããèþ¾ãã ããä¼ãì¾ã ã ã ¹ãÔãâ ããè ãäôã ªãâ ããþãñ ãä ãšã ½ã ãš ¹ããäÀàã ã ãšàã. ããñ ƒ ãà ½ããØã ããèþ¾ãã ãäôã ªãâ ãã¹ãñàãã ÑãñÓŸ ããöñ. Ôã½ãÔããè½ããâ ã ¹ã¾ããñãäØã ãã ãä ã½ã¾ã ã ã ãã Ìã ãã ãðš ããèôãö ÔããäÌãÔ ãà Ô¹ãÓ ãšàã. 2. ½ããØã ããèþ¾ãã ãä ãâš½ã ã ã ¾ã ËÌããäÞã ãš ãã ½ãã¹ã ããþ¾ãã ãäìããäìã 㠹㠪 ããè ÔããäÌãÔ ãà Ô¹ãÓ ãšàã. ½ããØã ããè ãäôã ªãâ ããþãñ ã ãóš ãš½ãìããà ¹ãÆã. ãäö ã Ôã ¾ããâÞ¾ãã ãäìãþããàãâþãñ ãäìãìãñþã ã ãšàã. 3. ŒããËãèË ¹ãÆÎ ããâþããè ããñ ã ¾ãã ã ãàñ ãäëöã ãšãñ ã ãñöãè ªãñ ã. ã) ãããä ãã ãš ãäìãîëñóã ããþ¾ãã ããøã½ã 㠹㠪á ããè Ìã ãä ãøã½ã 㠹㠪á ããèþãñ Øãì ã Ô¹ãÓ ãšàã. ºã) ãããä ãã ãš ãäìãîëñóã ããþ¾ãã ããâãäîã ãš Ìã Ôãã½ãã ¾ã Ôãã½ãã ¾ã Ôãâ ãìë ããþãñ ªãñÓã Ô¹ãÓ ãšàã. ãš) ÌããËÀÔãÞ¾ãã Ôãã½ãã ¾ã Ôãâ ãìë ã ¹ãÆã¹ããÞããè ØãðãäÖ ãñ Ô¹ãÓ ãšàã. ) ½ãì˼ãî ã ãããä ãã ãš Ôã½ãÔ¾ãã-ãä ãìã ãããä ã ªìãä½ãÃß ãã ãäìãî㪠ãšàã. 4. ŒããËãèË ¹ãÆÎ ããâþããè ããñ ã ¾ãã ã ãàñ ãäëöã ãšãñ ã ãñöãè ªãñ ã. ã) ºãªÊã ¾ãã ¹ãƽãã ããþãã ãä ã¾ã½ã ãããä ã ¾ããÞãñ ½ãÖ Ìã ãäìãî㪠ãšàã. ºã) Ôã½ã- ¹ã ããè Ìã ãšãþããè ÌãõãäÎãÓ ãñ ãäìãî㪠ãšàã. ãš) ¹ã㪠ã½ãã ããþ¾ãã ãâ ãøãã ã ºãÞã ããè ãããä ã ãºãþã ããè ãäìãî㪠ãšàã. ) ãšãùºã- ØËÔã ¹ã㪠㠹ãŠË ã ÔããäÌãÔ ãà Ô¹ãÓ ãšàã. 5. ŒããËãèË ¹ãÆÎ ããâþããè ãàñ ãäëöã ÔãÌãà ããìãî¾ã ãš. ã) Ô ãõãä ã ãš Ôãâ ãìë ã ½Ö ã ãñ ãšã¾ã? ºã) ããåöãôããè Ôããè½ããâ ã ¹ã¾ããñãäØã ãã ãä ã¾ã½ã Ô¹ãÓ ãšàã. ãš) ¹ã ã ã ¾ã ËÌããäÞã ãš ãñìãà ããñ ã ¾ãã ã ãä ¹ã ãñ ãäëöã. ) ¹ã㪠㠹ãŠË ã ¾ããÌãÀãèË ããñ ã ¾ãã ã ãä ¹ã ãñ ãäìãî㪠ãšàã. *************** GUG/S/17/3575 5 P.T.O
Micro Economic Analysis-I : Compulsory Paper (Old) ÔãîÞã ãã ú :- 1. Ôã¼ããè ¹ãÆÍ ã ããä ãìãã¾ãã Öõý 2. Ôã¼ããè ¹ãÆÍ ããò ãšãñ Ôã½ãã ã Øãì ã Öõý 3. ããìãî¾ã ãš ãøãö ¹ãÀ ÀñŒãããäÞã ã ºã ãヾãñý 1. ½ããúØã ãñš ããä¼ãì¾ã ã ã ¹ãÔãâ ããè ãäôã ªãâ ã ãšã ããëãñþã ãã ½ã ãš ½ãìʾããâ ãš ã ãšãèãä ã ý ÌãÖ ½ããúØã ãñš ã ¾ã ãäôã ªãâ ããñ Ôãñ ãä ãš ã ãã ÑãñÓŸ Öõý Ôã½ãÔããè½ããâ ã ¹ã¾ããñãäØã ãã ãä ã¾ã½ã ÔããÀ ããè ã ãã ÀñŒãããäÞã ã ãñš ãàã Ô¹ãÓ ãšãèãä ã ý 2. ½ããúØã ãšãè ãšãé½ã ã ËãñÞã ãšãñ ½ãã¹ã ãñ ãä ãš ãäìããäìã ã ãäìããä ã¾ããâñ ãšãñ Ô¹ãÓ ãšãèãä ã ý ½ããúØã ãäôã ªãâ ã ãñš ãããä ã㚠㚠㚽㠹ãÀ ¹ãÆã. ãäö ã Ôã ãñš ãäìãþããàãñ ãšã ãäìãìãñþã ã ãä ãšãä ã ý 3. ãä ã½ ããäëãäœã ã ¹ãÆÎ ããâñ ãñš ãà ãäëãäœã ý ãšãñƒã ¼ããè ªãñ. ã) ºã) ãš) ãããä ãã ãš ãäìãîëñóã ã ãä ãøã½ã ã ¹ãÆ ããëãè Ìãâ ããøã½ã ã ¹ãÆ ããëãè ãñš Øãì ã Ô¹ãÓ ãšãèãä ã ý ãããä ãã ãš ãäìãîëñóã ã ããâãäîã ãš ã ãã Ôãã½ãã ¾ã Ôãâ ãìë ã ¹ãÆ ããëãè ãñš ªãñÓã Ô¹ãÓ ãšãèãä ã ý ÌããùËÀÔã ãñš Ôãã½ãã ¾ã Ôãâ ãìë ã ¹ãÆã¹ã ãšãè ½ãã ¾ã ãã â ºã ãëムý ) ½ãì˼ãî ã ãããä ãã ãš Ôã½ãÔ¾ãã-ãä ãìã Ìãâ ãš½ã ãà ãã ãäìãî㪠ãšãèãä ã ý 4. ãä ã½ ããäëãäœã ã ¹ãÆÎ ããò ãñš ãà ãäëãäœã ý ãšãñƒã ¼ããè ªãñ. ã) ºã) ãš) ¹ããäÀÌã ãã ãîããèë ã ãì¹ãã ããò ãñš ãä ã¾ã½ã ããõà ƒôã ãñš ½ãÖ Ìã ãäìãî㪠ãšãèãä ã ý Ôã½ã- ¹ã㪠Ìã ãš ãšãè ãäìãîãñóã ãã ú ãäìãî㪠ãšãèãä ã ý ¹ã㪠¹ãõ½ãã ãñ ãšãè ãâ ãøãã ã ºãÞã ãñ ã ãã ãºãþã ãñ ãäìãî㪠ãšãèãä ã ý ) ãšãùºã- ØËÔã ¹ã㪠㠹ãŠË ã ãäìãô ããà Ôãñ Ô¹ãÓ ãšãèãä ã ý 5. ãä ã½ ããäëãäœã ã ¹ãÆÎ ããò ãñš ãà ãäëœããè ý Ôã¼ããè ããä ãìãã¾ããý ã) ºã) ãš) Ô ãõãä ã ãš Ôãâ ãìë ã ¾ãã ãñ ã ¾ãã? ÅÖãÔã½ãã ã Ôããè½ããâ ã ¹ã¾ããñãäØã ãã ãä ã¾ã½ã Ô¹ãÓ ãšãèãä ã ý ¹ã ã ËãñÞã¹ãÀ Ôãâàãñ¹ã ½ãñ ãä ¹¹ã ããè ãäëãäœã. ) ¹ã㪠¹ãŠË ã ƒôã¹ãà Ôãâàãñ¹ã ½ãò ãä ¹¹ã ããè ãäìãî㪠ãšãèãä ã ý ************* GUG/S/17/3575 6