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Unit2- Production
Q.1 Explain the concept and managerial uses of production function.
Q.2 Explain isoquant and law of variable proportions.
Q.3 Discuss total product, average product and marginal product.
Q.4 Explain with the help of imaginary figures - total fixed cost, total variable cost, total
cost, average variable cost, and marginal cost, average cost.
Q.5 The long run average cost curve, though U shaped, will be flatter and less
pronounced than the short run average cost curve. Explain with the help of diagram.
Q.6 Discuss various economies of scale.
Q.7 Discuss cost concepts relevant to managerial decision of planning and control.
Or
Q. What is meant by economies of scale? What are the different sources of internal and
external economies of scale?
Q. Explain the concept of cost output relationship in the short and long run.
Unit 5- Failure
Q.1 What is market failure? What are some of the causes of market failure.
Q.2 Write short note on asymmetric information.
Unit 6 National Income Accounting
Q.1. Define National income. What are the various methods of estimating national
income?
Q.2 Explain the concepts of Gross National Product, Gross Domestic product and net
national product at market prices
Q.4 Write short notes on concept of GDP and NNP
Q.5 What do you understand by Multiplier? Explain leakages of multiplier.
Q.6 Discuss Inflation its types and causes. What are the measures to control inflation?
Q.7 Write short note on Deflation.