Semester -3 Micro-Economics-II

Semester -3 Micro-Economics-II

                                      Important questions

Essay-questions:

Unit - I: Types of revenue and objectives of firm.

1)  Define AR & MR and what are their shapes in perfect and imperfect markets?

2)  Define AR & MR and explain its relation with Elasticity of demand?

3)  Define firm and what are the traditional and modern objectives of the firm?

Unit - II:  Perfect competition and Monopoly.

1)  Define perfect market and how is equilibrium price determined under perfect market?

2)  Define perfect market? How is equilibrium determined?

3)  Explain Marshall’s time element theory?

4)  Explain market price and normal price and what are the difference between MP and NP?

5)  Define EQ ? How a firm and industry reaches EQ in short run?

6)  Define EQ? How a firm and industry reaches EQ in long run?

7)  Define Monopoly? How is price determined in the short run or long run?

8)  Define price discrimination? How is price determined under price discrimination?

Unit – 5: Distribution and factor pricing.

1)  Critically examine the marginal theory of distribution/wages?