LOYOLA COLLEGE (AUTONOMOUS), CHENNAI –600 034
M.Com., DEGREE EXAMINATION – COMMERCE
SECOND SEMESTER – APRIL 2004
CO 2802/C 821 – MANAGERIAL ECONOMICS
07.04.2004 Max:100 marks
1.00 – 4.00
SECTION – A
Answer ALL questions in not more than 3 lines each (10 ´ 2 = 20 marks)
- What is economic cost?
- What is opportunity cost?
- What is abandonment cost?
- What is marginal cost?
- What is semi-variable cost?
- State any 2 characteristic of demand for producer’s goods.
- State any 2 purposes for undertaking long-term demand forecasting.
- State any 2 economic indications which can be used for demand forecasting.
- What is normal profit?
- Briefly state demand behavior for Veblen goods.
SECTION – B
Answer FIVE questions in not more than 2 pages each (5 ´ 8 = 40 marks)
- Explain the factors, which determine the market share of an enterprise.
- Explain with graphs, the different types of price-elasticities of Demand.
- Write a note on the Responsibilities of a managerial economist.
- explain the different ways in which monopoly power can be got.
- Explain the conditions necessary, for a monopolist to successfully undertake price discrimination.
- What are the wastes of monopolistic competition.
- Explain the internal and external profit limiting factors.
- Explain the various phases of a business cycle.
SECTION – C
Answer TWO questions in not more than 4 pages each (2 ´ 20 = 40 marks)
- Explain the derivation of the following with the help of graphs:
- An ISO – product curve
- An ISO- product Map
- The budget line
- The producer’s equilibrium under ISO- product curve analyze.
- Explain the following with graphs as under Perfect Competition:
- Short – term supernormal profit equilibrium
- Short- term minimum loss equilibrium
- Long- term normal profit equilibrium
- a) What is Oligopolistic price leadership?
- b) Explain the 3 types of price leadership.
- c) Explain price-ouput determination under oligopolistic price leadership with graph.
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