Tiêu đề Microeconomics 2, 2022 Exam.pdf ✅

KNU2026 Total Page: 01 KNU/2022/BSCHECOC201 UG 2hd Semester Examination 2022 Award BSC (HONS). Discipline: ECONOMICS Course Type: CC-3 Course Code: BSCHECOC201 Course Name: Microeconomic Theory-II Full Marks: 40 Time: 2 Hours 1. Answer any five questions: a) Define monopsony. 5x1 b) What is the amount of consumer's surplus in the case of first-degree price discrimination? ) ls price greater than marginal revenue in monopoly equilibrium? d) Can quasi rent be negative? e) Demand for factor is a derived demand. True or False? ) Define bilateral monopoly. g) Who developed liquidity preference theory? h) State the condition for Pareto optimality in consumption. 2. Answer any five questions: 5x2 a) What is Non-Collusive Oligopoly? b) Define transfer earnings of a factor of production. c) What do you mean by insurable risk? d) State any two determinants of elasticity of demand for an input. e) What do you mean by reaction curve in the context of duopoly? f) What is the demand for active balance? g) Define monopolistic competition. h) Distinguish between partial equilibrium and general equilibrium. 3. Answer any three questions: a) Explain the feasibility conditions for price discrimination. b) What is pareto optimality? Derive the conditions for attaining Pareto optimalit production. cDefine VMP and MRP. Explain why VMP equals MRP under perfect competition and not under monopoly. d. Discuss the equilibrium of an oligopoly model where dominant firm acts as the price leader. e. Explain in brief the innovation theory of profit. 4. Answer any one question: a. Explain the Stackelberg model of duopoly b. Discuss the loanable funds theory of interest rate determination. C. What is collective bargaining? Can the trade union raise wage without creating unemployment? Explain with reasons. 3x5 5 14 23 1x10 10 10 100