® 2018 ECONOMICS —- HONOURS ‘Paper : CC-1 leit Pca Pa asta tase Sa eet HeemNOleT eptarar Rice) eee 31 crear eft ean Boe me : soo (9) a es en core wf | — ef Bers (postive) 5 ETAAETER (normative) a RET eT Ce) arene ocaoce eRe AF Pre aT st ae ern eee AT EC TAR, ee we TO (29 fe err ers Rene ete eres Feet et arm et re OFT TT Roy eB en eye a Fo oom re oes Be OTE TP (ere IE Ca Coes US AF TOT (9) sot ars enifece aren gfe 8 (wee exon aera tare H creme (See arate of crue AR Reece Rferrere om ea wee we — BFE, EA faire a fe me CA Cw) SIR se the ef es Oe — cr corm A FM a om GAT an cmt (2) mca Bor ery Boe crete ere yey « facets ais HTT eee eA? (os eos Gort Sf a MY (0) scx Frome cor re ra, yA co re ee | oR A IE ex Saco coe-aa | (8) GX 6 Var rete we Are a mE EX 6 Yaa ae Sat oo) (©) Merce wi Roost we cob ere sete ere? (0) em Bo oe a cm co rw RA en co ea ove Bin cn Foam ete cea coors waren fet | (1 5 efi Fain fein we Fao cee gE TT Please Turn Over( ° a fons cw coe fa Pern Se re: ee (o) fieerra on rats RTs Boe weeceT ca 69 orm axons erence we (9) ee no A | (6) wee cree ete ore THIET (9) mare (carina) £46 A (orn) BHA ‘ene cx-corear fea? ern ee 6) ore arene covey he 5 ate Da woN ere wa | wee TNT er en af acm Me wy Beene cs RE we a rE arn) (ore Bor mat cee (eee co Poin TE SY BHC BTR MO RAT HE (6 ee et RSE A HME TE ALOT PEE (ose Beers Gem cra a fe TRY OT BAIT GOR CO BHATT (6) ates Bev oor afl com oreo Be GHATS HAM CH TTY (©) crm com ws Be Ror NY (oo aoc efenBbece eon CN fl BC A OE NR Sep et? senenesearet (roi Reo Frnt tae rece wefeo west (2) Src cate Boe re Te (ex) Beret er es eA ey Dari cat ere Fer ic a ge a as rg, eT COT MTT et ren om ers, are TOE, PRN AA HME TI ATH START A peor fam Seen eee mE HaHa| & Sea tian « rer etree Teint rane urweCra (8) nahn Bit ) Romeers ong (iets enh ong) whe ony (wey few) i (6) ars herent wane Bee 2030 ree rem am | rm Ahan aT 300 et sT oA, Bw ae, REE TA TCT (©) Seem (= Bren mT (6) reer sec cee RC ene @-20-P (3) tommy rm 9 Berm # ar (ane rare Ben “T" oe aeatice area forse = 30-0 + ‘Rearoe Heote, aI e Er HP enk E FE R Basa (30) 21 (ears, mee wm ar eee oe Ree ee era eb ercee Br we | cor eR ata rec me es ee He i, ee NS eT, EH aE TE scarp es ae a a ae fe Pe | (©) xy ont we rte mer afte more eo} CYTE ae fo a gfe CHE Bre eeTE ve cet sioeare Bon ak ae wis feral, 1% ones Rewer, Bem ‘Fafrevaren Gene et ae Se cere Se se aac ay cw BacaR AT CMOS 2a fr eres safe fe ite Bom ae Cem lx) Bare re THE ame ae) se(seie-8) 1 (a) esta, coe cater X are Y x mm ony CS ER XB eR ar ce Sree es (7) fon eo ro re a Ws eT OT 8 ee he a RH eon ex) case Please Turn Over(Mier Boonies HOCHEBCD “ [English Version) ‘The figures in the margin indicate fell marks. Seetion-a Answer any fen questions: 20 (a) “Demand for peo ll sits ric ss" — Jus whether te sstemen spsitve norms {b) Explain the fllowing plicy decision in ems of euity-fcieney perspective aa caiya Pradesh goverment waived the Ions ofthe farmers a they had sured loses” (© Other things determining demand remuining constant, Tits income dines und snes she PAS rae Wt Kad of god is spinach? What happens 0 Tis demand curve fr spins? pestvely sloped supply curve? (6) What is the ole of goverment in « market economy? (What is natural monopoly? (@) “A liner demand cure will necesuly have diferent elastity along ike cure” Cntr this satament i tre, false oF uncertain. «hy A pining by Van Gogh ova print ofthe same patting by Van Gh, which woud you expect have more elastic supp? Whi’? How does subsidy on a good afet the ee pall by buyers andthe rice rcsved by salle? {Whats the low of eimarzinal uty? {8 Plot the inden map fra person between risk nd etum who dos not ike isk in inven ‘tikes the eur fom i (What is the rationale unde Examine €) tthe cross pice east of demand between X and ¥ postive, dtemine se relationship between X and ¥. nm) How docs the value of priceslascity of demand affect otal revene? {oy Bit and Rani cach veto pool pump. Wins checking de price of petal, Bi wks eee ot pool and Rani asks for® 2000 worth of pew. Find the pie elicit of demand for perl of Batu and Rani (0) Bogan the shape ofthe indiirerce cue when agin rat of sbson MRS) i ing Sect sie shor tes on any’ ree ofthe following: 2 (a) Elaily and burden of a incidence between buyer and st {&) Welasian and Marshall Siity of Eauiibrim (@) Common Propety Resource and Public Good (a) Eiiciency of Market in organizing economic activin. Ge) Cantina sity approach and Ordinal Ulty approach.o (Mite -Bcononice OCHCBED) Seetion-c Answer amy three questions. ‘3. Suppose s water in India can produce 1S campaters or 5 tons of asin yer month. Suppese a worker ‘in Bangladesh can produce 4 computers or 4 tons of gin per month. For snlic, assume tat each couney has only one work, (2) Graph the production possibilities rome for each country. (©) What isthe opporturity cost of 1 compute in Tnx? What is the oporcniy cost of 1 ton of grain in indi? (©) What is the opportnity cost of 1 computer in Bangladesh? What isthe opportunity cost of 1 ten of grain n Banglades? (@) Which county has the absolute advantage in producing computes? Which country hs the absolite vantage in producing grain? (6) Which country as the comparative advantage In producing computers? Which country has the ‘somparative advantage in producing gran? (Fach country should tend toward specialization in the production of which goed? why? ) Explain the range of relative price of computes in tems of grin foe which bth counties would benef? Dee 4. (@) How do te folowing policies work to afet the demand for eigaetes? (i) Mandstory heath warnings on cigarete packages, (imposing tax per packet of cigarette (©) Tomato ketchup i complemen for shy. Ihe price af sh rises, wing suply-demand diagram ‘ow what happens tothe equilibrium peice and quantity inthe maket fr ketchup, for mos, for tomato jes, for orange ue are} » Using the clasifieaion of excludabiliy and rivaly in consumption, explain which category the felloing gods fall ito (Hila fish in river Ganga (@ Vidyasagar Setu 2nd Hooghly Bridge) (@) Rabindra Seta (Howrah Brie) Go) Ftewos apa (©) The government imposes € 1,000 tax on aicondtiones. Discuss whether he pice of sirconitonee will neease more tan, less tan ar equ to 1,00 in © Winer (Summer Please Tura Over©) SI i tt me TO cm pai eT a eis per egast foe SS gaa ered ee eee (= 300 - 7) ‘What wil be the price recived by the sellers, the price paid by the buyers and the quantiy sale? 43) 6. (@) Suppose the-government imposes minimum wage above the equlibium wage inthe market for tnskiledlabour. Using supply an demand nga show the market wage rat, numberof workers {Employed and numb of workers unemployed inthe market fr unskilled labour. Also show the tal tnags payment o Used labour ) Now suppose the government farther proposes 10 increase the minimum wage ait. What effect ‘would ths increase In mintmam wage have on employment? Docs this change in employment {depend on the elastic of demand, the easy of suply bot east, or ether? Give reasons, ©) Would your answer in () change if you consider the effect of minimum wage increase or smempleyment instead of employment? Explain, “eH 14149) 11 (@) Suppose a consumer consumes two goods X and ¥ which are perfect complements o each oer. Sow wat te demand curve and the Engle curve for X will look ik. (©) Distinguish between the Hicks approach and the Slutsky approach eluting to the decomposition of price effect ino income effect and substttion effect. 22}6