Download PTU B.Sc (BBE) 2020 March 3rd Sem 74194 Microeconomics Ii Question Paper

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Roll No. [ ] Total No. of Pages : 02
Total No. of Questions : 09

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B.Sc. Business Economics(BBE) (2015 to 2017) (Sem.-3)
MICROECONOMICS-II
Subject Code : BBE-301
M.Code : 74194
Time : 3 Hrs. Max. Marks : 60

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INSTRUCTIONS TO CANDIDATES :

1. SECTION-A is COMPULSORY carrying TWENTY marks.
2. SECTION-B consists of FOUR Sub-sections : Units-I, II, III & IV.
3. Each Sub-section contains TWO questions each, carrying TEN marks each.
4. Student has to attempt ONE question from each Unit.

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SECTION-A

1. Write note on the following :
   1. Resource Market
   2. Dead Weight Loss
   3. Hicksian Consumer Surplus
   4. Nash Equilibrium

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   5. Dominant Strategy
   6. Negative Network Externalities
   7. Non-Tariff Barriers
   8. Asymmetric Information
   9. Moral Hazard

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   10. Law of Demand

SECTION-B

UNIT-I

2. Discuss the concept of producer surplus. Also elaborate the impact of government interference on social welfare.

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3. Critically examine the Hicksian Concept of Consumer Surplus. Also elaborate the four concepts of Hicksian compensation variation regarding consumer surplus.

UNIT-II

4. Discuss the dominant strategy of Game theory. Does this strategy lead to Nash equilibrium?
5. Discuss the main applications of Game Theory.

UNIT-III

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6. Elaborate the main types of trade barriers.
7. What are the measures taken by the government to regulate the trade barriers?

UNIT-IV

8. What is the meaning of term externalities? Provide some examples of externalities in production and show the existence of these externalities result in non-optimization of production.
9. How is asymmetric information in markets lead to disequilibrium? What are the main steps to deal with the problem of asymmetric information?

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NOTE : Disclosure of Identity by writing Mobile No. or Making of passing request on any page of Answer Sheet will lead to UMC against the Student.