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MANAGEMENT PROGRAMME Term-End Examination December, 2015 MS-9 : MANAGERIAL ECONOMICS Time : 3 hours Maximum Marks : 100 Note : (i) There are two Sections : Section-A and Section-B. (ii) Attempt three questions from Section-A carrying 20 marks each. (iii) Section-B is compulsory and carries 40 marks.

SECTION - A 1. Explain the equi-marginal principle. Elucidate with the help of examples. 2. Discuss any five variables, which can be included in the demand function and can have a major impact on the demand. 3. Explain the production function with two variable inputs i.e. production isoquants giving examples. 4. What is Oligopoly ? Explain the important characteristics of Oligopoly. 5. Write short notes on the following : (a) Bundling (b) Cartels.

SECTION - B 6. Assume a firm has the following total revenue and total cost functions : TR =320Q — 2Q2 TC =1800 +50Q + 3Q2 Determine : (a) The level of output at which the firm will be maximizing profits ; (b) The level of output at which total revenue will be maximum. 7. (a) Explain why a firm facing a downward sloping demand curve would never produce the inelastic (ep < 1) portion of the demand curve.    (b) When would the firm operate at the point where demand curve is unitary elastic ?

MS-9 : MANAGERIAL ECONOMICS

June 2013

SECTION-A

MS-9   June , 2009

MS-9 : Managerial economics

1. a) Explain in brief the opportunity cost principle. Give examples in support of your answer.

b) What is a Production Possibility Curve (PPC) ? Explain how it reflects the opportunity cost principle.

2. Explain briefly the following give examples :

MS-9   June , 2007

MS-9 : Managerial economics

1.Differentiate between 5 types of rnarket using the following characteristics :

(a) Number of independent sellers

b) seller concentration

MS-9   June , 2008

MS-9 : Managerial economics

1. Explain why the average cost curve is U-shaped. The long run average cost curve is always an envelope of short run average cost curves. Discuss.

2. Explain the equilibrium of a firm by using the marginal cost and marginal revenue curves. Why is the firm under perfect competition described as a price taker ?

3. Explain break-even analysis on the basis of its concept, use, drawbacks and advantages.

MS-9   June , 2010

MS-9 : Managerial economics

1. (a) Discuss the Laws of Returns to scale and describe the three stages of returns to

scale.

MS-9   June , 2011

MS-9 : Managerial economics

1. "The opportunity cost of anything is the return that can be had from the next best

alternative use". Elucidate the statement with reference to the opportunity cost principle

applied in agricultural sector.

MS-9   Dec, 2007

MS-9 : Managerial economics

1. What is the basic objective of a firm ? Distinguish between 'Accounting Profit and 'Economic Profit' with the help of an illustration.

2. What do you understand by demand forecasting while describing the regression method of demand forecasting explain why it is important for the firm to forecast demand

3. Distinguish between the following with the help of illustrations :

MS-9   Dec, 2008

MS-9 : Managerial economics

1. Explain the concept of price elasticity of demand and the relationship between price elasticity, total revenue and marginal revenue

2. Show graphical derivation of MP and AP curves from the total product function. Show also the three stages of production. What economic purpose do the stages

of production serve ?

MS-9   Dec, 2009

MS-9 : Managerial economics

1. Distinguish between profit maximisation and value maximisation giving examples.

2 (a) Briefly explain the concept of price elasticity of demand giving suitable examples.

MS-9   Dec, 2010

MS-9 : Managerial economics

1. (a) Discuss the relation between the average product, marginal product and total product in the short run.

(b) How do these support the application of the law of variable proportion to the firm ? Give example.

2. (a) Why is the long run average cost curve called an "envelope curve" ?

MS-9   Dec, 2011

MS-9 : Managerial economics

1. One of the most significant business and economic trends of the late twentieth century

is the rise of 'global' or 'stateless'. Corporation critically comment on the statement taking examples from the real world firms.

2. (a) Discuss the concept and features of monopolistic competition giving examples.