b What is demand? Explain determinants of demand.

c State Law Of Demand and explain various factors affecting demand

3 Attempt any four questions:
Printed Pages: 1
CE 501
(Following Paper ID and Roll No. to be filled in your Answer Book)
PAPER ID : 0021

Roll No.

MBA
(SEM. Ist) PRE UNIVERSITY EXAMINATION, 2014-15

Managerial Economics
Time: 3 Hours]

[Total Marks: 100

Note : (1) Attempt all questions.

(2) Assume suitable data, if required.
1 Attempt any four questions:
a
b
c

d
e
2

5X4=20

a
1

Answer following:
Why there is need for demand forecasting? Explain the
various methods of demand forecasting.
2 What are the Objectives of demand forecasting?
b What is production function? State and explain theory of law
of variable proportion.
c If you keep some factors as constant and increase only one
factor then how will the total marginal product change?
d Draw following cost curves and briefly explain there shapes :
1 Average fixed cost curve
2 Total variable cost curve.
e State and explain:
1 Laws of returns to scale & Law of Diminishing returns scale
2 law of diminishing marginal return.
4 Attempt any four questions:
5X4=20
a
b

Describe the nature, scope and practical significance of managerial

c
economics?
d
Discuss the role of managerial economist.
e
Explain following:
1 What is incremental concept in economics?
2 What is time perspective in economics
3 Discuss Discounting Principle in detail.
Discuss the significance of managerial economics in organizational
decision making?
Differentiate between micro and macroeconomics.
Attempt any two questions:
10X2=20

a
1
2

What is price elasticity of demand? Explain different methods of

measuring price elasticity of demand.
the price elasticity of a product is 1.5.should the seller rise the
price. If his objective is to maximize the revenue. Explain with
reasons.

5X4=20

What is market? State and explain the Explain the classification of

market on basis of degree of competition.
What is oligopoly explain its features? how it differs from duopoly
market.
Explain skimming price strategy with suitable examples.
Differentiate between monopolistic and monopoly market.
Briefly explain determination of price under :
1 Perfect market.
2 Monopoly market
.
5 Attempt any four questions:
5X4=20
a What is national income? Give its significance.
b what is inflation and its various Type causes & prevention
methods.
c What are the methods for calculating national income explain.
d What is profit? Explain any two theories of profit and functions of
profit?
e What are business cycles explain?