ECONOMICS MicroEconomics-II English Telugu Medium

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Total No. of Pages : 8] Code No.

BA220ECO/B/2023
B1789
FACULTY OF SOCIAL SCIENCES
B.A./B.Com./B.Sc. II Semester (3YDC) Examination, May/June - 2023
Subject : ECONOMICS
Course Code No. & Name : BA220ECO - Micro Economics - II

Time : 3 Hours] [Max. Marks : 100


[Min. Marks : 40

SECTION - A

[Marks : 5 × 4 = 20]

Instructions to the candidates:

A¿¶ýÅÆæÿ$®ËMæü$ Üç *^èþ¯@þË$ :
a) Answer any five of the following questions in about 10 lines each.

D M“ üì …¨ ÐésìýÌZ HOÐþð ¯é I§æþ$ ³ç{ Ô¶ý˲ Mæü$ 10 ³ç …Mæü$¢ËÌZ Üç Ð@þ*«§é¯@þ… Ð{ éĶý¬Ð@þ¬.


b) Each question carries 4 marks.

³ç{ † ³ç{ Ô¶ýM² üæ $ 4 Ð@þ*Ææÿ$PË$.

1) Write about National Market and International Market.


gê¡Ä¶ý$ Ð@þ*ÆðÿPsŒý Ð@þ$ÇĶý¬ A…™èþÆ>j¡Ä¶ý$ Ð@þ*ÆðÿPsŒýË Væü$Ç…_ Ð{ éĶý$…yìþ.

2) Explain the different forms of market.


Ð@þ*ÆðÿPsŒý Äñý¬MæüP ÑÑ«§þæ Ææÿ*´ë˯@þ$ ÑÐ@þÇ…^èþ…yìþ.

3) Explain the Merits of Monopoly.


HMæüÝëÓÐ@þ$Å… Äñý¬MæüP Üç $Væü$×ê˯@þ$ ÑÐ@þÇ…^èþ…yìþ.

4) Explain the objectives of price discrimination.


§« þæ Ææÿ Ñ^èþ„æü×ý Äñý¬MæüP Ë„> Å˯@þ$ ÑÐ@þÇ…^èþ…yìþ.

P.T.O.
5) Describe the effects of monopolistic competition.
HMæüÝëÓÐ@þ$Å ´ùsîý ³ç{ ¿êÐé˯@þ$ ÑÐ@þÇ…^èþ…yìþ.

6) Examine Edgeworth’s model of duopoly.


GyŠþj Ð@þÆŠÿ¢ ¨Ó§é«¨³ç ™èþÅ ¯@þÐ@þÊ¯é° ÑÐ@þÇ…^èþ…yìþ.

7) Analyse the different types of wages.


ÑÑ«§þæ ÆæÿM>Ë Ðóþ™èþ¯é˯@þ$ ÑÔóýÙíÏ …^èþ…yìþ.

8) State the dynamic theory of profit.


^èþ˯é™èþÃMæü Ì꿶ý Üí §é®…™é°² ÑÐ@þÇ…^èþ…yìþ.

9) Explain the causes that affect the economic welfare.


BǦMüæ Üç …„óüÐ@þ*°² ³ç{ ¿êÑ™èþ… ^óþÜõ M>Ææÿ×ê˯@þ$ ÑÐ@þÇ…^èþ…yìþ.

10) State the properties of Bergson-Samuelson social welfare function.


»ñýÆŠÿY Üç ¯Œþ & Ô>Ð@þÊÅËÞ¯Œþ Ýë…íœ$Mæü Üç …„óüÐ@þ$ ³ç{ Ðóþ$Ķý$… Ë„æü×ê˯@þ$ ³õ ÆöP¯@þ…yìþ.

SECTION - B
[Marks : 5 × 12 = 60]

Instructions to the candidates :


A¿¶ýÅÆæÿ$®ËMæü$ Üç *^èþ¯@þË$ :
a) Answer all the following questions in about 30 lines each.
D M“ üì …¨ ÐésìýÌZ A°² ³ç{ Ô¶ý˲ Mæü$ 30 ³ç …Mæü$¢ËÌZ Üç Ð@þ*«§é¯@þ… Ð{ éĶý¬Ð@þ¬.
b) Each question carries 12 marks.
³ç{ † ³ç{ Ô¶ýM² üæ $ 12 Ð@þ*Ææÿ$PË$.

11) a) State the characteristics of perfect competition.


³ç Çç³NÆæÿ~ ´ùsîý Ë„æü×ê˯@þ$ ³õ ÆöP¯@þ…yìþ.
OR
b) Describe the markets classified on the basis of competition.
´ùsîý B«§éÆæÿ…V> Ð@þ*ÆðÿPrϯþ@ $ Ð@þÈYMüæ Ç…_ ÑÐ@þÇ…^èþ…yìþ.

BA220ECO/B/2023 2
12) a) Write about the different kinds of monopoly.

ÑÑ«§þæ ÆæÿM>Ë HMæüÝëÓÐ@þ*ÅË Væü$Ç…_ Æ>Ķý$…yìþ.


OR

b) Explain the concept of Monopoly Power.

HMæüÝëÓÐ@þ$Åç³# Ô¶ýMìü¢ ¿êÐ@þ¯@þ¯@þ$ ÑÐ@þÇ…^èþ…yìþ.

13) a) Describe the features of monopolistic competitive market.

HMæüÝëÓÐ@þ$Å ´ùsîý Ð@þ*ÆðÿPsŒý Ë„æü×ê˯@þ$ ÑÐ@þÇ…^èþ…yìþ.


OR

b) Explain the stable and unstable equilibrium models of duopoly.

¨Ó§é«¨³ç ™èþÅ… Äñý¬MæüP Üí Ʀ ÿæ ÐO þð $¯@þ Ð@þ$ÇĶý¬ AíÜƦ ÿæ Üç Ð@þ$™úËÅ ¯@þÐ@þʯé˯@þ$ ÑÐ@þÇ…^èþ…yìþ.

14) a) Examine the liquidity theory of interest.

§{ þæ Ð@þÅ™éÓÀÆæÿ$_Ð@þyîþz Üí §é®…™é°² ³ç ÇÖÍ…^èþ…yìþ.


OR

b) Describe the uncertainty theory of profit.

A°Õa™þè Ì꿶ý Üí §é®…™é°² ÑÐ@þÇ…^èþ…yìþ.

15) a) Critically analyse the Bergson - Samuelson social welfare function.

»ñýÆŠÿÜçY ¯Œþ & Ô>Ð@þÊÅÌŒýÜç ¯Œþ Ýë…íœ$Mæü Üç …„óüÐ@þ$ ³ç °¡Ææÿ$¯@þ$ ÑÐ@þ$Ææÿدé™èþÃMæü…V> ÑÔóýÙíÏ …^èþ…yìþ.
OR

b) Critically examine the Pigovian welfare economics.

³í VøÑĶý$¯Œþ Üç …„óüÐ@þ$ BǦMüæ Ô>݈밲 ÑÐ@þ$Ææÿدé™èþÃMæü…V> ³ç ÇÖÍ…^èþ…yìþ.

BA220ECO/B/2023 3
SECTION - C
[Marks : 20 × 1 = 20]
Instructions to the candidates :
A¿¶ýÅÆæÿ$®ËMæü$ Üç *^èþ¯@þË$ :
a) Answer all the following questions.
M“ üì …¨ ³ç{ Ô¶ý˲ °²…sìýMìü Üç Ð@þ*«§é¯@þ… Ð{ éĶý¬Ð@þ¬.
b) Each question carries 1 mark.
³ç{ † ³ç{ Ô¶ýM² üæ $ 1 Ð@þ*Ææÿ$P.
I. Multiple Choice Questions. Choose the correct answer.
D “ M ì ü …¨ ºç ß ý$O â ñ ý _a M æ ü { ç ³ Ô¶ ý ² Ë Mæ ü $ ç Ü O Æ ð ÿ ¯@ þ ç Ü Ð@ þ *« § é¯é°² Væ ü $Ç¢ … ^è þ …yì þ .

16) Who suggested a third criterion for market classification that is the
‘condition of entry’?
Ð@þÊyæþÐ@þ ³ç §æþ†® ÌZ Ð@þ*ÆðÿPrÏ Ñ¿¶ýf¯@þ ³ç{ §« é¯@þ…V> Ð@þ*ÆðÿPrÏÌZMìü “Üç …çÜ˦ ³ç{ ÐóþÔ¶ý…” A¯óþ °º…«§þæ ¯@þ³òO Mæü*yé
B«§éÆæÿ³ç yìþ Ķý¬…yæþ$¯@þ° GÐ@þÆæÿ$ ³õ ÆöP¯é²Æÿæ $?
a) Marshal b) Bain
c) Pareto d) Hicks
G) Ð@þ*ÆæÿÛÌŒý ¼) »O ýñ ¯Œþ
Üí ) ´ëÇsZ yìþ) ßí ýMŠüÞ

17) Under perfect competition Marginal Revenue curve is


³ç Çç³NÆæÿ~ ´ùsîý ¯@þ…§æþ$ E´ë…™èþ Æ>ºyìþ ÆóÿQ
a) Horizontal line with slope equal to X
b) Convex to origin
c) L shaped
d) Concave to the origin
G) X Mìü Ü
ç Ð@þ*¯@þÐO þð $¯@þ ÐéË$ ™ø Üç Ð@þ*…™èþÆæÿ ÆóÿQ E…r$…¨
¼) Ð@þÊ˼…§æþ$Ð@þ#Mæü$ Mæü$…¿êM>Ææÿ…V>
Üí ) L BM>Ææÿ…V>
yìþ) Ð@þÊ˼…§æþ$Ð@þ#Mæü$ ³ç #sêM>Ææÿ…V>

BA220ECO/B/2023 4
18) Under Duopoly the number of sellers will be
¨ÓÝëÓÐ@þ$Å…ÌZ AÐ@þ$ÃMæü… §éÆæÿÏ Üç …QÅ
a) one b) two
c) three d) many
G) JMæüPÆæÿ$ ¼) C§æþƪ ÿæ $
Üí ) Ð@þ¬Væü$YÆÿæ $ yìþ) ^éÌê Ð@þ$…¨

19) In all markets AR curve is the


A°² Ð@þ*ÆðÿPrÏÌZ AR ÆóÿQ H Ñ«§þæ …V> E…r$…¨.
a) Price line b) Supply line
c) Right to left curve d) Straight line
G) §« þæ Ææÿ ÆóÿQ ¼) Üç ³ç Ä
Ï ýŒ $ ÆóÿQ
Üí ) Mæü$yìþ¯@þ$…yìþ GyæþÐ@þ$Mæü$ ´ùÄôý$ ÆóÿQ yìþ) Üç Ææÿâ¶ý ÆóÿQ

20) “Liquidity trap” was found in this theory.


“§{ þæ Ð@þÅ™èþÓç³# Ð@þË” D Ü
í §é®…™èþ…™ø Ð@þ¬yìþ³ç yìþ E¯@þ¨
² .
a) Rent theory b) Profit theory
c) Liquidity preference theory d) None of the above
G) ¿êrMæü Üí §é®…™èþ… ¼) Ì꿶ý Üí §é®…™èþ…
Üí ) §{ þæ Ð@þÅ™éÓÀÆæÿ$_ Üí §é®…™èþ… yìþ) ³òO ÐóþÒ M>§æþ$

21) Dynamic theory of profit was developed by


^èþ˯é™èþÃMæü Ì꿶ý Üí §é®…™èþÐ@þ¬¯@þ$ AÀÐ@þ–¨® ³ç Ææÿ_¯@þ BÇ®Müæ Ðóþ™èþ¢
a) J.B. Clark b) Adam Smith
c) Marshal d) Robertson
G) gñý.¼. M>ÏÆÿŠ P ¼) ByæþÐŒþ$íÜÙŒþ
Üí ) Ð@þ*ÆæÿÛÌŒý yìþ) Æ>ºÆŠÿÜçt ¯Œþ

BA220ECO/B/2023 5
22) A.P. Learner’s index of monopoly power formula
G.í³. ÌñýÆæÿƲ ÿŠ HMæüÝëÓÐ@þ$Å Ô¶ýMìü¢ MöËÐ@þ*¯@þ Üç *{™þè …
P − MR P − MC
a) b)
P P

P − TC P − TR
c) d)
P P

23) The Book “The Economics of Imperfect Competition” written by


“¨ GMæü¯@þÑ$MŠüÞ B‹œ CÐŒþ$ç³ÆŠÿœ
ò MŠüt M>…í³sîýÙç ¯Œþ” V“ üæ …£æþÆæÿ^èþÆÿ¬™èþ.
a) Marshal b) Mrs. John Robinson
c) Pareto d) J.S. Mill
G) Ð@þ*ÆæÿÛÌŒý ¼) }Ð@þ$† gZ¯Œþ Æ>¼¯ŒþÜç ¯Œþ
Üí ) ´ëÇsZ yìþ) J.S. Ñ$ÌŒý

24) Summation of all Individual welfares in a society is called


Üç Ð@þ*f…ÌZ A…§æþÇ Ð@þÅMæü$¢Ë Üç …„óüÐ@þ*°² MæüËç³V> Ð@þ^óþa Üç …„óüÐ@þ*°² HÐ@þ$…sêÆæÿ$.
a) Welfare b) Value Judgements
c) Social welfare d) All of the above
G) Üç …„óüÐ@þ$… ¼) ÑË$Ð@þË ¡Ææÿ$µË$
Üí ) Ýë…íœ$Mæü Üç …„óüÐ@þ$… yìþ) ³òO Ð@þ±²

25) Among the following pareto - efficiency situation in an economy marginal


conditions must be satisfied.
Mìü…¨ÐésìýÌZ ´ëÇsZ AÀËçÙ×îýĶý$™èþ Ý뫨…^éË…sôý H E´ë…™èþ °º…«§þæ ¯@þ˯@þ$ ™èþ³ç Mµ üæ $…yé Üç …™èþ–í³¢
³ç Ææÿ^éÍ.
a) Exchange optimality b) Production optimality
c) Integrated optimality d) All of the above
G) Ñ°Ð@þ$Ķý$ AÀËçÙ×îýĶý$ Üí †¦ ¼) E™èþ†µ Ì¢ Z AÀËçÙ×îýĶý$ Üí †¦
Üí ) Üç Ð@þ$“Vüæ AÀËçÙ×îýĶý$ Üí †¦ yìþ) ³òO Ð@þ±²
BA220ECO/B/2023 6
II. Match the following :

“ M ì ü …¨ Ðésì ý ° f™è þ ç ³ Ææ ÿ ^è þ …yì þ :


A B

26) Monopolistic competition a) Marshal

27) Quasi Rent b) A.C. Pigou

28) New Welfare Economics c) Pareto

29) Single Buyer d) E.H. Chamberlin

30) Price Discrimination Degrees e) Monopsony

G ¼
26) HMæüÝëÓÐ@þ$Å ´ùsîý G) Ð@þ*ÆæÿÛÌŒý

27) Mæü–{†Ð@þ$ ¿êrMæü… ¼) G.íÜ. ³í Væü*

28) B«§þæ $°Mæü Ô“ ýó Ķý$çÜ$Þ AÆæÿÔ¦ >çÜ…ˆ Üí ) ´ëÇsZ

29) JMóü Mö¯@þ$VøË$ §éÆæÿ$yæþ$ yìþ) D.òßý^Œþ. ^é…ºÇϯþŒ

30) §« þæ Ææÿ Ñ^èþ„æü×ý yìþX“ Ë$ C) Ððþ*¯øç³Þ±

BA220ECO/B/2023 7
III. Fill in the blanks:

Rêä˯@ þ $ ç ³ NÇ…^è þ …yì þ :

31) In perfect competition the buyers and sellers are _________.

³ç Çç³NÆæÿ~ ´ùsîý ¯@þ…§æþ$ Mö¯@þ$VøË$§éÆæÿ$Ï Ð@þ$ÇĶý¬ AÐ@þ$ÃMæü…§éÆæÿ$Ï ________.

32) No Rent land is called _________.

¿êrMæü… Ìôý° ¿¶ý*Ñ$° _______ A…sêÆæÿ$.

33) Selling costs are part of __________ competition market.

AÐ@þ$ÃMæü³ç # Ð@þÅĶý*Ë$ ________ ´ùsîý Ð@þ*ÆðÿPsŒýÌZ ¿êVæü….

34) Modern Theory of Interest to determine the rate of Interest decide curves
are ___________.

B«§þæ $°Mæü Ð@þyîþz Üí §é®…™èþ…ÌZ Ð@þyîþÆz ÿó r$¯@þ$ ________ ÆóÿQË$ °ÆæÿÆ~ ÿ¬Ýë¢Æÿ¬.

35) Kaldor-Hicks criterion is known as ___________.

M>ËzÆŠÿ & íßýMŠüÞ °º…«§æþ¯@þ ________ A° Mæü*yé A…sêÆæÿ$.



BA220ECO/B/2023 8

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