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Section – B
Attempts any two questions. Each Question carries marks. (2*10 =20)
Q1 Explain the short run equilibrium determination under different cost condition under
Monopoly.
Q2 Evaluate various causes of inflation, and how we can control inflation.
Q3 Write short notes on the following.
(a) Law of diminishing marginal utility.
(b) Cross elasticity of demand.
Section – C
Tick mark the correct option (Attempt any ten) (2 x 10 = 20)
(i)The quantity that a consumer is planning to buy depends on all the following EXCEPT.
(a) Income of consumer of consumer (b) Price of product (c) Future expectation of price
(d) Technology.
(ii) In case the length of an arc on demand curve is infinitesimal, then arc elasticity
coincides with;
(a) Unit elasticity (b) Point elasticity (c) Zero elasticity (d) Negative elasticity.
(ix) A monopoly can earn abnormal profit in short run and in long run period.
(a) True (b) False