TUTOR MARKED ASSIGNMENT

Course Code : ECO - 06

Course Title : Economic Theory Assignment

Code : ECO – 06/TMA/2016-17

Coverage : All Blocks

Maximum Marks: 100

Attempt all the questions.

1. Describe the law of equi-marginal utility. Explain it with the help of a diagram. How does a consumer attain equilibrium?

 2. What do you mean by Elasticity of Demand? How would you measure the price Elasticity of Demand?

 3. What do you understand by production possibility curve? Illustrate it with the help of a suitable example.

4. Explain a firm’s short period equilibrium under perfect competition with the help of suitable diagram

5. Write short notes on the following:

(a) Cardinal approach to utility

(b) Quasi rest

(c) Extension of demand

(d) Competitive wages