Sargodha University MA Economics Paper-I Micro Economics Theory Past Papers 2016
Here you can download Past Papers of Paper-I Micro Economics Theory, MA Economics Part One, 1st & 2nd Annual Examination, 2016 University of Sargodha.
Micro Economics Theory UOS Past Papers 2016
M.A. Economics Part – I
Paper-I(Micro Economics) 1st Annual Exam.2016
Time: 3 Hourse Marks:100
Note: Objective part is compulsory. Attempt any four questions from subjective Part.
Objective Part
Q.1: Write short answers of the following in 2-3 lines each.
- Explain axiom of transitivity.
- What is short-run supply shock?
- What is “Reserve Price”
- What are economies of scale?
- Define learning curve?
- Explain the concepts of reserve capacity.
- What are homothetic preferences?
- What is expected utility function?
- What is basic assumption of Cournot’s model”?
- What is the application of Roy’s Identity?
Subjective Parts
Q.2: Draw Marshallian, Hicksian and Slutsky demand curves graphically with the help of indifference curves. Also compare ordinary and compensated demand curves.
Q.3: By considering the general form of Cobb-Douglas function i.e. X = b0 Lb1 Kb2 and the cost equation C = wL + rK derive the total cost as a function of X, b0 , b1, b2, w and r.
Q.4: (a) Differentiate between collusive and non-collusive oligopoly.
Explain Paul A. Sweezy’s model of non-collusive oligopoly.
Q.5. Compare market sharing cartel & Joint profit maximizing cartel in detail.
Q.6: Why does efficiency in consumption require the MRS of all consumers to be the same?
Q.7: Write comprehensive note on the following?
(a) Shephard’s Lemmma Propery.
b) Total & Marginal cost curves under engineering theory of cost.
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