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ECO404 FinaltermPaperswithPagenosAll

This document contains questions from past papers for the ECO 404 exam. It includes multiple choice questions and short answer questions on various microeconomics topics. Some of the key concepts covered include oligopoly models, game theory, price discrimination, production functions, costs, revenues, risk and uncertainty. Mathematical questions involve calculating profits, break even outputs, regression equations, and derivatives.

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Bint e Hawa
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203 views6 pages

ECO404 FinaltermPaperswithPagenosAll

This document contains questions from past papers for the ECO 404 exam. It includes multiple choice questions and short answer questions on various microeconomics topics. Some of the key concepts covered include oligopoly models, game theory, price discrimination, production functions, costs, revenues, risk and uncertainty. Mathematical questions involve calculating profits, break even outputs, regression equations, and derivatives.

Uploaded by

Bint e Hawa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Subjective questions are ECO 404......

diffirence between positive and negative externaity (3) (P-298)

difference between finity repeated and infinity repeated games(3) (P-209)

why firm produce more than one products

define capital rationing and why the practice of capital rationing are in use (P-283)

define price discrimination give example of situation of price discriminations

calculate unknown variations from the data its numerical (P-188,191,197)

like this : year sale (y) estimated line of regression

1 20 19.5

2 18 14.6

2nd

Q1. Differentiate between Pure and Differentiated oligopoly? (3 Marks) (P-187)

Q2. Calculate profit Function following data given? (3 Marks) (P-13,98,115,248)

Qd=120-15p and P=20-0.5Q

TC=50+3Q

Define Investment Opportunity Schedule and Marginal Cost of Capital?(3 Marks)(P-288)

Q3. Avg cost/unit of the firm in 2009 was 500 and 460 in 2010. Find Learning Rate? 3 (P-124)

Q4. Write characteristics of Stachelberg Oligopoly model? (5 Marks) (P-194)

Q5. Why forms produce more than one product? (5 Marks) (P-221)

Q6. Data was provided: (5 Marks)

Probability Cash Flow (P-280)

Boom 0.25 500

Normal .050 400

Recession 0.25 300


a.) Find Expected Value of Firm?

b.) Find Standard Deviation?

Q7. Given: Z=f(l,k) + λ (c*-Wl+rk) Find Partial Derivative of L,K, λ with respect to Z.
(5 marks (P-13)

implicit cost is opportunity cost?? explain with Example....3marks (P-100)

homogenous production function ..... 3 marks (P-185)

interpret following Regression Equation...3 marks (P-44)

yt = 9.5 + 3.65Xt

yt= sales quanitity

Xt = advertising cost

Find Production cost of the function...5 (P-246)

P = 430 + 50Q

TC = 3000 + 45Q + 0.03Q2(square on Q)

another question from production function dnt remembr exactly asking aby he marginal
change in (P-105)

Q= f(L,K)....5mark

Q: difference between cost of capital and cost of debt? 5marks (P-288)

Q: criticism on william’s managerial utility? 5 marks (P-235)

Q: solve the regration equation St=105.3(1.464) (P-48)

for the base year 1991

and find for 2011 and 2015? 5 marks

Q: Write down the elements of Game theory? 5 Marks (P-199)

Q: describe the flaws of customer Clinic Approach? 3 Marks (P-35)

Q: Difference between replacement and cost reduction investment? 3 (P-279)


Q: Slope of Average cost AC=400Q (P-237)

+463Q

/Q+12Q+10? 3marks

Q: describe the marri’s model? 3 marksn (P-241)

Q1. What is Expansion Path and what are the points on Expansion path? (3 Marks) (P-88)

Q2. Differentiate between Centralized Collation and Market Based Collation? (3 (P-197)

Q3. What is the criticism on Maris Model of growth? (3 Marks) (P-241)

Q4. Differentiate and discuss Risk and Uncertainty? (3 Marks) (P-263)

Q5. Consider the following information of the firm:

Total fixed cost = Rs.250

Price level = Rs. 15

Average variable cost = Rs. 5

Target profit level = Rs. 150

From this information, calculate the break even level of output and target level

of output? (5 Marks) (P-83)

Q6. What are the Assumptions of Neo-Classical Theory? (5 Marks) (P-234)

Q7. Why decision making is complicated in oligopoly as compared to other market

structures? Discuss? (5 Marks) (P-161)

Q8. Differentiate Cost of Capital and Cost of Debt? (5 Marks) (P-288)


Solution to Q5.
(1) QB = TFC
P – AVC
= 250
15 – 5
= 25
(2) QT = TFC + ∏T
P – AVC
= 250 + 150

Q.No1:- Define Finitely repeated games & Infinitely repeated games Marks 3 (P-208)
Q.No 2:- briefly describe Risk attitude 3 Mark (P-263)
Q.No3:- calculate profit Function following data given 3 Mark
Qd=120-15p and P=90-0.5Q
TC=50+3Q
Q.No 4:- Price Discrimination and types describe in detail 5 Mark (P-213)
Q.No 5:- characteristic of Firm and what is main objective of firm 5 Marks

Difference between PERFECT COMPETITION and MONOPOLY (P-180)

Simultaneous games and Sequential games

DEGREES OF PRICE DISCRIMINATION

MEASURING RISK WITH PROBABILITY DISTRIBUTIONS

CAPITAL BUDGETING PROCESS

PAYBACK PERIOD

1) 2 functions were given their derivatives were asked to find. (P-13)


2) what is the usefulness of Game theory? (P-199)
3) how opportunity cost is defined? (P-101)
4) what is by-product?? give example
5) what are the characteristics of competitive competition? discuss them (P-161)
6) Why decision making is complicated in oligopoly as compared to other market
structures?? dicuss (P-187)
7) How Game theory helps in risk analysis? (P-199)
what are the contributions of Behavioral theory?? (P-255)
9) last question is also mathematical. aquestion was given and the requirement was
to calculate the explicit & implicit cost of enterpreneur..( the same questiion which
was in assignmnet 1)

Consider the following information of the firm:


Total fixed cost = Rs. 350
Price level = Rs. 20
Average variable cost = Rs. 10
Target profit level = Rs. 250
From this information, calculate the break even level of output and target
level of output.
(Marks: 2.5+2.5)
Question: 02
You have given the following linear programming problem:
Maximize Profit (π) = Rs. 20X + Rs. 8Y
Subject to the following constraints:
3X + 1Y + SA = 40
2X + 2Y + SB = 25
4Y + SC = 30
The corner points are given as:
Corner points X Y
A00
B70
C53
D27
E07
From all this information, find the profit (Rs.) level at each corner point. (Marks: 5)
(P-148, 150)
Given the total revenue and total cost functions:
TR = 80Q – 0.00025Q2
TC = 260,450 + 5Q +0.00035Q2
Find the profit maximizing level of output under monopoly
Total 64 Questions out of which 56 MCQ'S,4 question of 3 marks and 4 of 5 marks.

3 Marks Questions:
1-Define economies of scope. why it is important for firms? (P-116)
3-What is transfer pricing?why does the problem of transfer pricing arises?discuss (P-
227)

2-Baumol's sales maximization model was criticized on what grounds? discuss? (P-235)
3-Briefly discuss the basic valuation model of firm. How this model can be adjusted for
risk? (P-266)
4-Given the following total revenue and total cost function of a firm
TR = 22Q - 0.5Q2
TC = (1/3)Q3 - 8.5Q2 + 50Q + 90
Find out the marginal revenue and marginal cost (P-6, 105)

Mostly mcqs were on perfection competition, Games and product and


their classification like Wheat Market, Cigarettes, Mining industry etc

How Game Theory can be beneficial in Risk Analysis 5 Marks (P-257)

How Government can exercise Monopoly Give Reasons 5 Marks (P-162)

How Behavioral Theories contributed in Economy of Sales 5 Marks (P-235)

SUBJECTIVE QUESTIONS:
Q1. Describe the types of price discrimination briefly? 3marks (P-231)

Q2. What is opportunity loss? Define 3marks


Q3. Differentiate between the simultaneous move game and the sequential move
game? 3marks (P-208)

Q4. What are the contribution of MARRIS MODEL? Discuss briefly 3marks (P-241)

Q5. Discuss the characterisitics of oligopoly? 5marks (P-187)

Q6. Data was provided: (5 Marks)

Cash Flow
Probability

Boom 0.25 500

Normal .050 400

Recession 0.25 300

a.) Find Expected Value of Firm?

b.) Find Standard Deviation? MARKS 2+3

Find Expected Value of Firm?


b.) Find Standard Deviation? MARKS 2+3
Question: 01
Consider the following information of the firm:
Total fixed cost = Rs. 350
Price level = Rs. 20
Average variable cost = Rs. 10
Target profit level = Rs. 250

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