DATE Instructions: Q.1 a) 1. 2.

SKVMS NMIMS UNIIVERSITY SCHOOL OF DISTANCE EDUCATION COURSE: MS - 3 SUBJECT: MANAGERIAL ECONOMICS June 200 MARKS: !00 TIME: 3 HOURS Attempt any five questions. Figures to the right indicate full marks.

hat is !anagerial "conomics# $iscuss the importance of !anagerial "conomics for a manager of a firm. 1% $iscuss o&'ectives of a firm. $iscuss the ()a* of $emand+. demand curve# hat causes a shift in the 1% 1% 1% 1% 1%

&) Q.2 a) &) Q., a) &)

hat are the determinants of a demand function for a commodity# hat is significance of demand forecasting# $iscuss any one method of demand forecasting. "-plain the follo*ing in &rief .any t*o) i) ii) iii) /rice "lasticity of $emand Income "lasticity of $emand 0ross "lasticity of $emand

Q.1

$iscuss in detail various stages of the )a* of $iminishing !arginal 2eturns. 2% a) 0omplete the follo*ing ta&le. hy does the marginal product take a negative value after applying certain amount of la&our# 1% 5otal /roduct 1,6 11 21 21% 29 Average /roduct 1% !arginal /roduct 16

Q.3

4nits of )a&our 1 2 , 1 3 7 8

6 &) Q.7 a) &) hy is the )ong:2un average cost curve 4:shaped#

:28 1% 1% 1% $iscuss the factors that determine the nature of competition in the market. hat kind of market structure do the follo*ing products face# i) !o&iles ii) ;oap

Q.8 Q.6 a) &) Q.9 a) &) c) d)

"-plain in detail the profit ma-imi<ing equili&rium of a firm under perfect competition in the short run as *ell as in the long run. 2% "-plain the price and output determination of a firm under monopoly. hat is a kinky demand curve# rite short notes on any t*o. /roduction /ossi&ility 0urve /roduction Function "conomies of ;cale 2elevance of /erfect competition and !onopoly 1% 1% 2%

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