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11-26-2011, 05:55 PM
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Eco402 midterm papers new
Total Question= 27
MCQS=22 Long = 5 Q23. Define the Diminshing Marginal Utility & Equi-Marginal Utility.(3) Q24. Define Consumer Surplus and describe its benefits briefly. (3) Q25. Describe the followings: a) Marginal Cost and Marginal Revenues b) Total Cost and Total Revenues Q26. Discuss the different preferences toward risk with the help of examples Q27. When do the economics of scope exits? Spout your answer with the help of Example. Hw can u measure the degree of economics of scope? Explain with the help of Formula. Total Question= 27 MCQS=22 Long = 5 Q23. Define the Diminshing Marginal Utility & Equi-Marginal Utility.(3) Q24. Define Consumer Surplus and describe its benefits briefly. (3) Q25. Describe the followings: a) Marginal Cost and Marginal Revenues b) Total Cost and Total Revenues Q26. Discuss the different preferences toward risk with the help of examples Q27. When do the economics of scope exits? Spout your answer with the help of Example. Hw can u measure the degree of economics of scope? Explain with the help of Formula. Question : Complete the following. (marks 5) Output Total Cost Variable Cost Fixed Cost Marginal Cost 0 50 0 50 – 1 60 ? ? ? 2 75 ? ? ? 3 100 ? ? ? 4 150 ? ? ? Question: define snob effect and bandwagon effect. + what is NETWORK EXTERNALITIES ? (marks 5) Question: A. How do we calculate the user cost of capital? B. Why isocost lines are straight lines? (Marks: 1+2) Question: Differentiate between the law of diminishing marginal utility and the law of equi-marginal utility. (Marks: 1.5+1.5) my paper. total qustn 27 22 mcqz 3 marks k 3 5 marks k 2 mcqz ziada tar pat papers se define risk neutral and explain it with graph (3) if a company producing car and truck jointly then what is the benefit of joint producing? (3) dffrntiat btwen diminishng margnal utility and equi margnal utility? (3) define probability.. intrepreting objective and subjective probability...what are main point to measure the risks? (5) given a statement about perfect competition then asked about the assumption which are required for perfect competition (5) eco402 paper: 1. Differentiate b/w diminishing marginal utility and equi marginal utility ?? marks=3 2. Define risk. by how many ways a consumer can reduce risk? marks =3 3. if MC of production > AVC, does this tell you whether the AVC is increasing or decreasing. explain marks=3 marks 4. How can diversification reduce the risk of investing in the stock market? give example. marks = 5 5. can an isoquant be other than convex to origin. if yes then which shapes of isoquant are possible and why? mahparanoor: define with diagrams if there any. marks=5 
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