Assignment No.

Programme Name : BBA Semester: I Credit: 4

Course Title : MICRO ECONOMICS Course Code:22ODBBT101

Submitted Date: 2022 Last date of Submission: 31st May 2022

Max. Marks: 30 Weightage: 15 Marks

Instructions:
• Sec-A is compulsory which consists of Ten Short Answer Questions (1 mark per question).
Answer length should be approximately 100 words.
• Attempt any Five questions from Sec-B out of Seven questions (4 marks per question). Answer
length should be approximately 800 words.

Section –A (10 Marks)

Q1. What are the sources of data collection?

Q2. Why is short-run average cost curve U-shaped?
Q3. Explain the concept of cross elasticity of demand. How would you measure such elasticity?
Q4. Differentiate between micro and macroeconomics.
Q5. What are the properties of indifference curves?
Q6. Explain and illustrate iso-quants and iso-cost curves
Q7. Explain the concepts of economies of scale.
Q8. Explain how market demand is derived from individual demand.
Q9. Trace the relationship between price and revenue under monopoly.
Q10. What is the solution to avoid black marketing of essential goods in short supply?

Section –B (20 Marks)

Q1. (a) Distinguish between price elasticity, income elasticity and cross elasticity of demand.
(b) On a straight-line demand curve, select any point ‘p' and give a geometrical proof of
measurement of elasticity at this point.
(c) When the price of commodity X was ` 10 per unit, people consumed 3,000 units. With fall in
price to ` 9, they consumed 3,150 units. State the formula and measure the elasticity of demand
for X.
Q2. (a) State and explain the law of demand.
(b) Are there any exceptions to the law of demand?

Q3. How would you approach to demand/sales forecasting in the following cases?

(a) Samsung 29” TV set in Mumbai.

(b) Health Resort Scheme in Bangalore.
(c) Shares of Infosys (an IT organisation)
(d) Exports of Diamond
Q4. Write explanation notes on:
(i) The law of diminishing marginal utility.
(ii) Consumer's surplus.
(iii) The law of equi-marginal utility.
Q5. Explain consumer's equilibrium with the help of indifference curve technique.
Q6. State, explain and illustrate the law of variable proportions.
Q7. Trace the economic impact of economies of large scale on the cost behavior of the firm.