1. JOSEPH’S COLLEGE OF COMMERCE (AUTONOMOUS)

END SEMESTER EXAMINATION – OCTOBER 2013

M.I.B. – III SEMESTER

Economics for managers

Duration: 3 hours                                                                                      Max. Marks: 100

SECTION- A

 

1. Answer any SEVEN        (7 x 5  = 35)

 

1. Explain the term explicit and implicit cost with an example.
2. Explain short run equilibrium of the firm under perfect competition.
3. Differentiate between selling and social cost with a example.
4. What are isocost curves? state through a schedule
5. Explain increase and extension of demand through a figure.
6. What is meant by dual pricing?
7. What are learning curves?
8. Differentiate between AC and MC.
9. Explain the concept of marginalism.
10. Differentiate between Micro and Macro economics.

 

Section – B

 

1. Answer any THREE out of FIVE.                                             (3 x 15   = 45) 

 

11. What is Producers equilibrium. Explain the Producers Equilibrium with the help               of a diagram.
12. Explain Price and output determination of a discriminating monopolist.

 

13. a) with the help of the following data calculate TVC.AC.MC.AVC.AFC

output	10	20	30	40	50	60	70
TFC	250
Tc	350	500	800	1000	1300	1800	2500

 

1. Explain the relationship between LAC and SAC.

 

14. What is Price elasticity of demand? Explain the different degrees of price elasticity. state its significance.

 

 

 

15. Explain the short run and long run equilibirium of the firm under perfect competition. explain with suitable figs

 

 

Section – C

 

• Case Study – compulsory question.   (20 marks)

 

16.

• Kinley associates have been manufacturing bisleri water for the last 40 years.  In the last five years they have ventured to manufacture water filters.  Each at the rate of 6500/- each year increasing the price between 10 and 12%.

 

• A. Their sales record is as follows with the help of data calculate the trend for each of the five years and the forecast for 2013 and 2014.

Analyse their trend of sales of the water filters.                                 (10 marks)

 

Year	2008	2009	2010	2011	2012
Sales (000’s)	210	230	280	390	560

 

 

8000. The total sales for the year 2012 was 8000. Their fixed cost available indicated rs 400000/-, the variable cost being rs 2500. Price per unit was rs 5200 at the whole sale market.  Find the BEP.  Find profits or losses at 1200 unit sales.                                                                                               ( 10 marks)

              

 

 

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