Download Goa University BA LLB-5 Years 2015 Oct 1st Semester Economics I Micro Economics Question Paper

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B.A.LL.B. (SEMESTER – I) Examination, October 2015

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ECONOMICS – I: MICROECONOMICS

Duration: 3 Hours

Total Marks: 75

Instructions: Answer any Eight from Q. No. 1 to 12. Question No.13 and 14 are compulsory. Draw the Appropriate diagrams wherever necessary.

1. Explain the different methodologies in economics.

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2. Evaluate the role of Price Mechanism in an economy.
3. State and explain the Law of Demand and Supply.
4. Explain the Long Run equilibrium of the firm under Perfect Competition.
5. Explain the Innovation and the Risk - bearing theory of Profits.
6. Discuss the Net Present Value and the Internal Rate of Return criteria in Investment analysis.

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7. Elucidate on the Pigovian welfare economics.
8. Explain the Short run equilibrium of the Monopolist.
9. Critically evaluate the Liquidity Preference Theory of Interest.
10. Elaborate on Consumers Surplus.
11. Discuss the Law of Variable Proportion.

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12. Explain the Hicks Compensated Demand Curve.

(8x8= 64)

13) Write Short notes on ANY TWO: (3x2 = 6)

1. Categories of Welfare.
2. Kinked demand curve

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3. State the Law of Equi - Marginal Utility.

14) Write Short notes on ANY TWO: (2.5x2 = 5)

1. Evils of Monopoly
2. Concepts of Cost.
3. What is Social Welfare Function?

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