Economics SU 2015 Past Paper-A BA / B.Sc

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Economics SU 2015 Past Paper-A

University of Sargodha – BA / B.Sc (1st Annual) 2015

Time Allowed: 3 HoursMaximum Marks: 100

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

Economics SU 2015 Past Paper-A

PART-I

Question # 1:

a) Differentiate between the Endogenous and Exogenous Variables with examples.

b) Describe the kinds of equation according to:

i. Number of Unknown

ii. Power of Unknown

Also gives examples.

Question # 2:

Given the following model of income determination:

Y=C+Io+Go where S= -83+0.25Yd, Io=10 and Go=50, T=20+0.2Y, Yd=Y-T

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a) Find the equilibrium level of income and equilibrium level of consumption.

b) Find the value of Multiplier (K).

c) Find the equilibrium level of income graphically.

Question # 3:

a) Following demand function is given Qd=700-2P+0.02Y whereas P=25, Y=5000. Compute the price elasticity of demand and income elasticity of demand.

b) Given the demand function Q=50 – 1/2P2, find:

i. Total Revenue Function (TR)

ii. Marginal Revenue Function (MR)

iii. Slope of Marginal Revenue and slope of Average Revenue

Question # 4:

Maximize a firm’s profit when its profit function is:

π=160x-3x2-2xy-2y2+120y-18 and subject to the constraint x + y=35

Economics SU 2015 Past Paper-A

PART-II

Question # 5:

a) Define microeconomics. Discuss the basic problems of microeconomics theory.

b) What is meant by market economy? State the imperfections of market economy.

Question # 6:

Explain the characteristics of Iso-Quants and show how does a firm achieve optimum factor combination with the help of Iso-Quants and Iso-Cost Curves?

Question # 7:

Define Industry. Derive the short-run and long-run supply curves of industry under perfect competition.

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Question # 8:

Comprehensively explain the concept of price discrimination. Illustrate your answer with the help of diagrams.

Question # 9:

What is monopsony? How are price and employment of a factor determined under monopsony?

Question # 10:

Explain any two of the following:

a) Properties of the Indifference Curves

b) Arc Elasticity of Demand

c) The Revealed Preference Theory


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