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  • IA MicroI

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    This document provides instructions for an internal assessment examination in introductory microeconomics. It includes 3 questions to be answered in the allotted time: 1) Derive the total demand curve for movies in Kolkata based on given inverse demand functions and explain the aggregation problem, 2) Examine the validity of statements about market equilibrium and constant price elasticity along a straight line demand curve, and 3) Use graphical analysis to show price and quantity adjustment around the equilibrium point for given supply and demand curves. Students must answer all 3 questions within the time provided, from 3:30pm to 5pm on December 29th, 2020.

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    This document provides instructions for an internal assessment examination in introductory microeconomics. It includes 3 questions to be answered in the allotted time: 1) Derive the total demand curve for movies in Kolkata based on given inverse demand functions and explain the aggregation problem, 2) Examine the validity of statements about market equilibrium and constant price elasticity along a straight line demand curve, and 3) Use graphical analysis to show price and quantity adjustment around the equilibrium point for given supply and demand curves. Students must answer all 3 questions within the time provided, from 3:30pm to 5pm on December 29th, 2020.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    14 views1 page

    IA MicroI

    Uploaded by

    chris castelary
    This document provides instructions for an internal assessment examination in introductory microeconomics. It includes 3 questions to be answered in the allotted time: 1) Derive the total demand curve for movies in Kolkata based on given inverse demand functions and explain the aggregation problem, 2) Examine the validity of statements about market equilibrium and constant price elasticity along a straight line demand curve, and 3) Use graphical analysis to show price and quantity adjustment around the equilibrium point for given supply and demand curves. Students must answer all 3 questions within the time provided, from 3:30pm to 5pm on December 29th, 2020.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Internal Assessment Examination

    29th December 2020

    ECON 01C1

    INTRODUCTORY MICROECONOMICS

    F.M. 20

    TIME: 3.30 pm to 5 pm (including the time of submission)

    1. Suppose the inverse demand functions for movies is p = 120 – q1 for college students and p = 120 – 2q2
    for other residents in Kolkata.
    (a) Which of the demand curve is comparatively steeper?
    (b) Derive Kolkata’s total demand curve and present it graphically.
    (c) Explain the issue of ‘aggregation problem’ in presence of snob effect. 2+3+2=6

    2. Examine the validity of the following: 3X2=6


    (a) Equilibrium exists for a market with the demand and supply curves, D = 50 – 4p and S = 2 + 10p – p2.
    (b) ‘Price elasticity of demand remains constant along a straight line demand curve’.

    3. Consider the Walrasian and Marshallian stability for qs= 6 – p and qd= 10 – 3p. Use graphical analysis
    to show the adjustment of price and quantity around the equilibrium. 8

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