LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
M.COM. DEGREE EXAMINATION – COMMERCE
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SECOND SEMESTER – APRIL 2006
EC 2901 – MANAGERIAL ECONOMICS
Date & Time : 28-04-2006/9.00-12.00 Dept. No. Max. : 100 Marks
PART – A
Answer ALL the questions in about 50 words each. (10 ´ 2 = 20 Marks)
- Define Giffen goods and Inferior goods.
- What do you understand by demand elasticity?
- Differentiate short-run forecast from long-run forecast.
- Define sunk cost and incremental costs.
- What is Ratio Analysis?
- Distinguish between monopoly and monopsony.
- Explain Going rate pricing.
- Define quality price differentials and quantity differentials.
- What do you mean by monopoly profits and windfall profits?
- Distinguish between Break-even point and Break-even chart.
PART – B
Answer any FIVE questions in about 250 words each. (5 ´ 8 = 40 Marks)
- Discuss the assumptions and advantages of Break-even analysis.
- Outline the arguments for professionalisation of management.
- Explain briefly the determinants of demand.
- Describe the diverse types of elasticity of demand.
- Bring out the different kinds of demand forecasting.
- Why is a long-run average cost curve U shaped?
- Elucidate the merits of cost control.
- Discuss the features of oligopolistic and monopolistic markets.
PART – C
Answer any TWO questions in about 900 words each. (2 ´ 20 = 40 Marks)
- What is income elasticity of demand? Elaborate the different types of income elasticity. How is it applicable to modern business?
- Define cost function. Explain the divergent methods of estimating cost function. Point out the problems involved in the estimation of costs.
- Compare and contrast marginal cost pricing with target pricing. Are they relevant to modern business?
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