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PC-7991/NL
X-1/2119
MANAGERIAL ECONOMICS-104
(Semester-I)

Time Three Hours] [Maximum Marks : 50

SECTION-A

Note: Answer any wo questions. Each question carries 7.5 marks.

Define Demand. Explain what is the law of demand.

II. Discuss the role and responsibilities of a Managerial

economists in an organisation.

II. Describe the Short-run production function. What is the

law of variable proportions?

IV. Describe how price is determined through interaction of

demand and supply forces. (2x7=15)

SECTION-B

Note: Atempt any rwo questions. Each question carmies 7% marks.

V. What is Oligopoly ? Explain price rigidity under oligopoly

market.
7991-NL/2,010/HHH/322 [P.T.O.
VI. What is Socialist economy ? What are its main features?

VIL. Discuss how does the size of investment multüplier depend

upon marginal propensity to consume (MPC)?
VIII. What is Cost push inflation ? Discuss various causes of
cost push inflation. (2x7=15)

SECTION-C

Note: Attempt (in short) all the four questions. Each question
carries 5 marks.

X. Distinguish between Fixed costs and Vaiable costs.

X. What are the main factors to determine price elasticity of

demand ?

XI. Define the concepts of GDPmp and

GNPmp
XIL. Discuss the various phases of a business cycle. (4x5=20)

7991-NL/2.010 HHH 322 2