MB0042- MANAGERIAL ECONOMICS WINTER 2014-2015
DRIVE WINTER 2014
PROGRAM MBA/ MBADS/ MBAFLEX/ MBAHCSN3/ PGDBAN2
SEMESTER 1
SUBJECT CODE & NAME MB0042- MANAGERIAL ECONOMICS
BK ID B1625
CREDIT & MARKS 4 Credits, 60 marks
1 What is production function and its uses? Explain the two types of production functions.
Production function and its uses
Two types of production functions
2 Monopoly is the situation there exists a single control over the market producing a commodity having no substitutes with no possibilities for anyone to enter the industry to compete. In that situation, they will not charge a uniform price for all the customers in the market and also the pricing policy followed in that situation.
Define Monopoly
Features of Monopoly
Kinds of Price Discrimination
3 A cost-schedule is a statement of variations in costs resulting from variations in the levels of output and it shows the response of costs to changes in output. If we represent the relationship between changes in the level of output and costs of production, we get different types of cost curves in the short run. Define the kinds of cost concepts like TFC, TVC, TC, AFC, AVC, AC and MC and its corresponding curves with suitable diagrams for each.
kinds of cost concepts like TFC, TVC, TC, AFC, AVC, AC and MC and its corresponding curves suitable diagrams
4 Inflation is a global Phenomenon which is associated with high price causes decline in the value for money. It exists when the amount of money in the country is in excess of the physical volume of goods and services. Explain the reasons for this monetary phenomenon.
Define Inflation
Causes for Inflation
5 Discuss the practical application of Price elasticity and Income elasticity of demand.
Practical application of price elasticity
Practical application of Income elasticity
6. Discuss the scope of managerial economics.
Definition of Managerial Economics
Scope of Managerial Economics