Download JNTUH MBA 1st Semester 2018 May Managerial Economics Question Paper

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Question Paper Code: CMB003

Jawaharlal Nehru Technological University Hyderabad

MBA I Semester End Examinations (Supplementary) - June, 2018

Regulation: R16

Managerial Economics

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(MBA)

Answer ONE Question from each Unit

All Questions Carry Equal Marks

All parts of the question must be answered in one place only

Max Marks: 70

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Time: 3 Hours

UNIT I

1. 1. Explain the role and responsibilities of a managerial economist in business. [7M]
   2. How do operations research and marketing get very close to managerial Economics? Explain. [7M]

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2. 1. Explain the significance of economies of risk and uncertainty in decision making of business. [7M]
   2. Define managerial economics. What are the subjects that are related to managerial economics. [7M]

UNIT II

1. 1. Define demand. Explain the types of demand and its nature. [7M]

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   2. Define the concept supply and the law of supply. [7M]
2. 1. What is meant by demand forecasting? Why it is necessary for the managers of business firm? [7M]
   2. Define elasticity of demand. Explain the significance of elasticity of demand. [7M]

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UNIT - III

1. 1. What is economies of scale? Explain internal and external economies of scale. [7M]
   2. How does the law of variable proportions operate? Explain with the help of assumed data and also represent it in a diagram. [7M]
2. 1. Explain the term ISO Quant's and ISO costs and what are types of ISO Quant's? [7M]

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   2. Define production function and explain the Marginal Rate of Technical Substitution(MRTS). [7M]

UNIT IV

1. 1. Define cost. Explain different cost concepts that are used by manager for decision making. [7M]
   2. Explain the concepts: AFC, AVC, ATC and MC. [7M]

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2. 1. Give the reasons for the U shape of long run AC curve. [7M]
   2. Define break even point. What are the factors influencing cost? [7M]

UNIT - V

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1. 1. Do you think monopoly is still present in current business environment? Explain how price output is determined in monopoly in the long run and short run. [7M]
   2. Explain the difference between perfect competition and monopoly. [7M]
2. 1. Explain oligopoly competition. Explain price and output determination in oligopoly market. [7M]
   2. Explain the difference between Monopoly and Monopolistic competition. [7M]

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