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    2010ies Exam Question Paper-1

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    AnjaliPunia
    This document contains instructions and questions for a economics exam divided into three sections. Section I contains 5 short answer questions, Section II contains 7 medium length questions to be answered in 150 words, and Section III contains 2 long answer questions to be answered in 500 words. The questions cover a range of economics topics, including consumer theory, production costs, market failures, externalities, and linear programming.

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    2010ies Exam Question Paper-1

    Uploaded by

    AnjaliPunia
    26 views3 pages
    This document contains instructions and questions for a economics exam divided into three sections. Section I contains 5 short answer questions, Section II contains 7 medium length questions to be answered in 150 words, and Section III contains 2 long answer questions to be answered in 500 words. The questions cover a range of economics topics, including consumer theory, production costs, market failures, externalities, and linear programming.

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    IES QUESTION PAPERS SEPARATED TOPIC WISE

    Original Title

    2010IES EXAM QUESTION PAPER-1

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    This document contains instructions and questions for a economics exam divided into three sections. Section I contains 5 short answer questions, Section II contains 7 medium length questions to be answered in 150 words, and Section III contains 2 long answer questions to be answered in 500 words. The questions cover a range of economics topics, including consumer theory, production costs, market failures, externalities, and linear programming.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    26 views3 pages

    2010ies Exam Question Paper-1

    Uploaded by

    AnjaliPunia
    This document contains instructions and questions for a economics exam divided into three sections. Section I contains 5 short answer questions, Section II contains 7 medium length questions to be answered in 150 words, and Section III contains 2 long answer questions to be answered in 500 words. The questions cover a range of economics topics, including consumer theory, production costs, market failures, externalities, and linear programming.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Section- I • Attempt any five parts of the following question.

    Answer to each part


    should be of about 50 words. 7x5=35
    1. (a) Define consumer's surplus. Derive an expression for it using integral calculus.
    (7M)(2010)
    (b) Why is short-run average cost curve U-shaped ? Show that marginal cost curve
    intersects the average cost curve at latter's minimum point.(7M)(2010)
    (c) Compare long-run equilibrium of the firm under perfect competition with that
    under monopolistic competition usmg suitable diagram.(7M)(2010)
    (d) What is a social welfare function? State the underlying assumption in its
    formulation.(7M)(2010)
    (e) State and explain the assumptions of two-variable linear regression
    model.(7M)(2010)
    (f) What is log-normal distribution ? Where is it used in economic analysis
    ?(7M)(2010)

    Section -II
    Attempt any seven of the following answer should be in about 150 words.
    questions. Each I5x7=105
    2. Derive consumer's expenditure function by minimising total expenditure;
    y = p1q1 + p 2 q 2 subject to utility constraint u= q1 q2 (15M)(2010)
    3. Draw consumer's indifference curve from ·revealed Preference Theory.
    (15M)(2010)
    4. Separate income effect from substitution effect of a price. change for a Giffen
    type good. Use suitable diagram. (15M)(2010)
    5. What is elasticity of factor substitution ? Give various forms of production
    function based on this concept. (15M)(2010)
    6. "Asymmetric or incomplete information leads to market -failure". Examine
    lemons • problem in the above context with the help of pricing of used cars
    (15M)(2010)
    7. What is Hicks-Kaldor criterion of compensation? What are its weaknesses ? Give
    Scitovsky's sugges tion for improvement. (15M)(2010)
    8. Distinguish between positive and negative externalities and explain with .
    examples. Why does government provide some goods 'which are not
    public goods ? _ (15M)(2010)
    9. What are type I and type II errors ? Why ts probability of type I error fixed in a
    hypothesis testing problem ? (15M)(2010)
    10. Four products A. B. C, D are to be bought to satisfy minimum requirements of
    calories and Vitamin (which are 18 and 10 units respectively) at mini Mum cost.
    Formulate linear programming problem
    using additional information given below : ..
    Product type A B C D
    Calorie 2 0 1 3
    content
    Vitamin 0 3 1 4
    content
    Price per unit 5 10 12 15
    (15M)(2010)
    Section - III
    Attempt any two of the following 500 words each : questions m about 30x2=60
    11. What is Peak-load Pricing ? How IS it different from third degree price
    discrimination ? Give diagrams to illustrate your answer.(30M)(2010)
    12. Define production function. The production function for a product is given by Q
    = 100KL.
    If price of capital (K) is $ 120 per day and that of. labour (L) is $ 30 per day, what is
    the minimum cost of producing 400 units of output ? (30M)(2010)
    13. Describe Leontief's static input-output model. Calculate outputs of two
    industries from following input-output table if final use for outputs of the two
    industries increase to 15 and 20 units, respectively.

    Industry I Industry II Final use Total output


    Industry I 20 9 11 40

    Industry II 12 6 12 30

    Figures are in physical units.(30M)(2010)

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