Sem 3 Imp Questions


St.Pious X Degree & PG College for Women                                                                                                                                        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 –III: Monopolistic Competition and Oligopoly Markets.
1) Define Monopolistic Competition .Explain the price determination under Short and Long Run.
2) Define Monopolistic Competition and explain the concepts of _ Selling Costs and Product differentiation.
3. Define Oligopoly and explain the Price rigidity under Oligopolistic market.
4. Define Monopolistic Competition highlight the differences between Perfect and Monopolistic markets
Unit –IV: Pricing Strategies.
1)   Explain various theories of pricing strategies 
2)   Explain full cost and marginal cost pricing
Unit – 5: Distribution and factor pricing.
1)  Critically examine the marginal theory of distribution/wages?
2)  Explain Ricardo’s  Theory of Rent.
3)  Explain Classical theory of Interest
4)  Explain Ne- Classical theory of Interst.
5)  Explain Keynes Liquidity Preference theory of Interest. 

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