QP Code : BH-3200 (3 Hours) [ Total Marks : 100 N.B.: (1) Answer any four questions. (2) All questions carry equal marks. (a) Illustrate the Von Neumann utility analysis. (6) Write a note on Roy’s Indentity. (a) For a Leontief Technology with output Y and input X, and X, the production posibility set is define as Y = {y, —x,}, y < min (x*, x,!"*) Derive the following :~ (i) The production function. (ii) The input requirement set. (iii) The isoquant. (b) State and prove the properties of short run cost function. (a) Define th econsept of Nash equilibrium, explaining it with the help of suitable illustrations. (b) Explain optimal contracts illustrating the concepts of moral hazard and adverse selection. What is meant by signaling? Explain the importance of signaling, (a) What are the various categories of asymmetric information Models? (b) Discribe the principal-agent problem in the context of the production game. (@) Price discrimination under monopoly. (b) Compensating and equivalent variation as measures of welfare change. Write short notes on any two :— (a) Koldor’s theory of income distribution. (b) Short run cost curves. (©) Externalities. (@) Pareto Efficiency. [TURN OVER Con. 739-14.2 QP Code : BH-3200 (Fad wae) (37a) TERT TM : Yoo Wat: (%) (2) . (@) eeaeEe a oeifre fete ee wT. (a) ta aren wanda ata fear. . (A) IA TX, -X, OER sarsea festates caged senet wart Fart area ersten eh Ta: Y= {y, -x)}, ys min (, x,'*) Fa SATA UTsttes Tae (8) Sea HT (2) Fifer mea at (3) BH See aw. (@) aera ad wear afired niga di fag ea. . (3) ag aadtert caren tea eaibs sq Et HIE aT. (a) Seam aerit He Hea Aftes ster orf witGe fas a Gace HE HT. . br Bt rest wer? sha Geared wea He HT. . (3) santa fetter sierra arora at area. (®) sere Garg dents wAE-sfredh wren ee wT. . (a) warktreredte fire fate. (@) aero sear eR a war Tera atom. . aTehteneht aptoreaet Sea Tee EAE HT = (a) Sesten sera fers fergie (@) sera ad a (%) waa (S) Pareto Het stern. Con. 739-14,