Managerial Economics (2.3.15)
Time-2HrsFull marks-40Each question carries 6/7 marks
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?