# Economics 2016 SU Past Paper-A BA / B.Sc Easy Text

Economics 2016 SU Past Paper-A BA / B.Sc is as under. For further papers, you can explore Past Papers.

### Economics 2016 Past Paper-A

University of Sargodha – BA / B.Sc (1st Annual) 2016

Time Allowed: 3 HoursMaximum Marks: 100

Note: Attempt five questions in all, selecting two questions from Part-I and three questions from Part-II

#### PART-I

##### Question # 1:

Differentiate with the help of examples between:

a) Implicit function and inverse function

b) Single valued and multi-valued function

##### Question # 2:

Given the following demand and supply equation:

Qd=60-3P, Qs=2P-16

Find

a) Equilibrium price and equilibrium quantity

b) If govt imposes tax Rs. 3 per unit on the product, find new equilibrium price and quantity.

##### Question # 3:

If average revenue and the cost function of a firm are as follows:

P+0-5Q=22, C=1/3Q3-8.5Q2+50Q+90

Find

a) The output level and price at which profit is maximum. Also, find total profit.

b) If govt imposes an excise duty of Rs. 20/- per unit, find new output and price which maximize profit.

##### Question # 4:

Find the Maxima and Minima of the function. Also, explain its graph.

Y=X3-12X2+36X+8

#### PART-II

##### Question # 5:

Islamic economic system is not a compromise between capitalism and socialism. Do you agree with this, give arguments in favor of your answer?

##### Question # 6:

What are indifference curves? Show that P.E=I.E+S.E

##### Question # 7:

Explain the law of variable proportions with the help of a table and diagram.

##### Question # 8:

Discuss why the average cost and marginal cost curves of a firm are U-shaped in the short run while they become flattered in the long run.

##### Question # 9:

What is the difference between monopoly and monopolistic competition? How price and output are determined under monopolistic competition?

##### Question # 10:

Explain any two of the following:

a) Revealed Preference Theory

b) Ridge Lines

c) Iso Cost Curves

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