Download Goa University BA LLB-5 Years 2016 April 1st Semester Economics I Micro Economics Question Paper

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B.A.LL.B. (SEMESTER – I) Examination, April 2016

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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.

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Draw the Appropriate diagrams wherever necessary.

1. Explain choice as an economic problem in an economy.
2. Explain the shifts and changes in quantity demanded and supplied.
3. Evaluate the Cardinal Approach of Utility given by the classical economists. (8*8=64)
4. Elaborate on the Features of Monopoly. What are the causes that lead to Monopoly power?

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5. Explain the Determination of wage rate in Competitive markets.
6. Elaborate on the Internal Rate of Return and the Average Rate of Return criteria in Investment analysis.
7. Discuss the Kaldor - Hicks Compensation Principle.
8. Explain the equilibrium position of the firm under Price Discrimination.
9. Explain the IS – LM model of Interest.

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10. Write a note on the Social Cost Benefit Analysis.
11. Discuss the budget line and explain the shifts in the budget line.
12. Discuss the different elasticity of demand.

1. Write Short notes on ANY TWO: (3*2 = 6 M)
   1. Elasticity of Demand as a measure of monopoly power.
   2. Collective Bargaining

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   3. What are Giffen goods?
2. Write Short notes on ANY TWO: (2.5*2 = 5 M)
   1. Controlled and administered Prices
   2. Reasons for the differences between the wages of men and women.
   3. State the meaning of Total Cost, Average Cost and the Marginal Cost.

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