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managerial economics

managerial economics

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04/15/2013

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Managerial Economics (2.3.15)
Time-2HrsFull marks-40Each question carries 6/7 marks
Unit 1
1.Define managerial economics? State its scope.2.What do you mean by managerial economics? Discuss the role played by it in a business?3.Define managerial economics? Shoe that the difference between managerialeconomics and economics?4.Define firm? Discus its different objectives?5.Explain the concept of profit maximization of a business?6.Profit maximization is not the only objective of a business? Explain the statement?7.What do you understand by demand? Discuss the different types of demand?8.Explain the law of demand? What are the exceptions to this law?9.Define the elasticity of demand? Discuss the importance of elasticity of demand?10.What is elasticity of demand? How it can be measured?11.What is demand forecasting/ discuss the factor involved in the process of demandforecasting?12.What is demand forecasting? Discuss the purposes of forecasting demand?13.Explain in brief the various types of survey methods of demand forecasting? How aresurvey methods superior to statistical methods?14.Discuss in brief different statistical methods of forecasting demand and point out their merits and limitations?15.Write short notes on:i.Law of demandii.A firmiii.Marginal cost curve16.Write short notes on:i.Derived and autonomous demandii.Income elasticity of demandiii.Delphi method of forecasting demand17. Write short notes on:i.Cross elasticity of demandii.Giffen goodsiii.Barometric technique18.Write short notes on:i.Direct and indirect demandii.Trend projection methodiii.Concept of elasticity.19.Discuss the meaning, nature and scope of managerial economics?20.Managerial economics is applied economics , Explain21.Managerial economics in the discipline which deals with the application of economictheory to business management, Comment?22.Discuss various constraint of a business firm?
 
UNIT II
1. What is production function? Explain with the help of an example.2. What do you understand by “return to scale? Why increasing return to scale occurs.Explain with the help of diagram.3. Short notes-i) constant return to scale.ii) Decreasing return to scale.4. What is Cobb-Douglas production function? State its properties.5. Explain the least-cost combination of factors with a suitable diagram?6. Distinguish betweeni)Fixed cost and variable costii)Economic cost and accounting costiii)Explicit cost and implicit costiv)Marginal cost and average costv)Short run cost and long run cost7. Explain with a diagram the relation ship between cost and output in short run?8. Explain the relationship between cost and output in the long run?9. State and explain different types of cost functions?10. Write short notes on:i)Short run cost functionii)Long run cost function11. What do you mean by internal economics. Describe different types of internaleconomics?12. State and explain the sargant Florence principle of economics of scale?13. Write short notes on:i)Internal diseconomiesii)Learning curveiii)External diseconomies
UNIT III
1.What is perfect competition? State its features?2.Explain the short run equilibrium of a firm under perfect competition3.Explain the long run equilibrium of a firm under perfect competition4.What is monopoly? Explain the nature of demand and marginal revenue curves undemonopoly?5.How price is determined in a perfectly competitive market?6.How price is determined in monopoly, when a firm can maximize profit?7.Explain the equilibrium of monopoly firm? How that price fixed by the monopolist isless than the marginal cost of production?8.What do you mean by monopolistic competition? State its features?9.Discuss about the nature of demand and marginal revenue curve under monopolisticcompetition?10.State and explain the price output equilibrium of a firm in the long-run under monopolistic competition?11.What is oligopoly? State its characteristics. Can price and output is determined inoligopoly?12.What is capital budgeting? Why it is important for a managing?

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