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15) Time-2Hrs Each 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 managerial economics 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 demand forecasting? 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 are survey 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 demand ii. A firm iii. Marginal cost curve 16. Write short notes on: i. Derived and autonomous demand ii. Income elasticity of demand iii. Delphi method of forecasting demand 17. Write short notes on: i. Cross elasticity of demand ii. Giffen goods iii. Barometric technique 18. Write short notes on: i. Direct and indirect demand ii. Trend projection method iii. Concept of elasticity. 19. Discuss the meaning, nature and scope of managerial economics? 20. Managerial economics is applied economics , Explain 21. Managerial economics in the discipline which deals with the application of economic theory 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 notesi) 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 between i) Fixed cost and variable cost ii) Economic cost and accounting cost iii) Explicit cost and implicit cost iv) Marginal cost and average cost v) Short run cost and long run cost 7. 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 function ii) Long run cost function 11. What do you mean by internal economics. Describe different types of internal economics? 12. State and explain the sargant Florence principle of economics of scale? 13. Write short notes on: i) Internal diseconomies ii) Learning curve iii) External diseconomies UNIT III 1. 2. 3. 4. What is perfect competition? State its features? Explain the short run equilibrium of a firm under perfect competition Explain the long run equilibrium of a firm under perfect competition What is monopoly? Explain the nature of demand and marginal revenue curves under monopoly? 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 is less 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 monopolistic competition? 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 in oligopoly? 12. What is capital budgeting? Why it is important for a managing?
13. Discuss the nature of capital budgeting problem? 14. Explain various methods of capital budgeting in nut-shell 15. Short notes on: i) Pay back period ii) Internal rate of return iii) Present value method 16. Besides profitability what are the other factor that are taken into accounting before going for an investment? 17. State various internal sources of capital? 18. Examine various external sources of capital? 19. What is cost of capital? How would you calculate cost of preferable share capital? 20. short note on : i) Cost of debt ii) Cost of equity capital iii) Cost of retained earnings iv) Average cost of capital