| ST. JOSEPH’S COLLEGE OF COMMERCE (AUTONOMOUS) | ||||||||||||||
| END SEMESTER EXAMINATION – SEPT/OCT. 2015 | ||||||||||||||
| M.COM (I.B.) – I SEMESTER | ||||||||||||||
| P415 AR 102 : ECONOMICS FOR MANAGERS | ||||||||||||||
| Duration: 3 Hours Max. Marks: 100 | ||||||||||||||
| SECTION – A | ||||||||||||||
| I. | Answer any SEVEN questions. Each carries 5 marks. (7×5=35) | |||||||||||||
| 1. | Explain the Discounting principle with an example. | |||||||||||||
| 2. | What are Learning curves? Briefly analyse their significance in business. | |||||||||||||
| 3. | Analyse the sales maximization theory of the firm. What is your opinion? | |||||||||||||
| 4. | What are isoquant curves? Explain with an tabular example. | |||||||||||||
| 5. | State the difference between contraction and decrease of demand. | |||||||||||||
| 6. | Explain the innovation theory of profits. | |||||||||||||
| 7. | What are external economies? State any two types of external economies. | |||||||||||||
| 8. | State the difference between implicit and explicit cost with suitable examples. | |||||||||||||
| 9. | Explain the income elasticity of demand with a mathematical problem. | |||||||||||||
| 10. | Distinguish between TR, AR and MR with suitable examples for each. | |||||||||||||
| SECTION – B | ||||||||||||||
| II. | Answer any THREE questions. Each carries 15 marks. (3×15=45) | |||||||||||||
| 11. | What is meant by the total outlay method of measuring price elasticity? State the method with a mathematical problem. | |||||||||||||
| 12. | Discuss the price and output of discriminating monopolist. | |||||||||||||
| 13. | What is meant by price elasticity? State the different degrees of price elasticity. | |||||||||||||
| 14. | Explain the short run and long equilibrium of the firm under perfect competition. Use suitable diagrams to explain. | |||||||||||||
| 15. | Elucidate the law of variable proportion. State the important stage in the production function of a firm. | |||||||||||||
| SECTION – C | ||||||||||||||
| III. | Case Study (1×20=20) | |||||||||||||
| 16. | Zion industries have been manufacturing spare parts for the last 6 years. The sales of iron mini rods has been the following:
a. Calculate the demand for each of the five years and find demand for the next 3 years.
b. The industry obtained new orders from BEML to manufacture wheel alignment plates. This was a very new order for Zion. They started their production in December 2014. The fixed cost was 500000. The average variable cost after much deliberations came to Rs. 800. They price each unit at 1400. What is Break even analysis. Find their BEP. c. Calculate their profits at 1000 units. &&&&&&&&&&&&&&&&&&&&&&& |
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