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Internal Assignment-2022-23
Program Name M.A. (Economics)
Paper Code – MAEC-01
M.A. (Economics)
Economic Theory - I
Max Marks: 20
Note: The Internal Assignment has been divided into three sections A, B, and C. Write Answer as per the given instruction.
Section-A
(Very Short Answer Type Questions)
Note: Answer all questions. As per the nature of the question you delimit your answer in one word, one sentence or maximum up to 30 words. Each question carries 1mark.
1. What is meaningof oligopoly?
2. What do you mean by Giffen Good?
3. Define Substitution Effect.
4. Differentiate between fixed and variable cost?
Section-B
(Short Answer Questions)
Note: Answer any 2 questions. Each answer should not exceed 200 words. Each question carries 4 marks.
1.Write the main methods to measure elasticity of demand.
2. What is the compensation? Why did compensation payments need to be paid from one social position to another?
3. Critical review of Arrow's social election concept.
4. Explain the meaning of bilateral monopoly.
Section ‘C’
(Long Answer Questions)
Note: Answer any one question. You have to delimit each answer maximum up to 500 words. Each question carries 08 marks.
1. What is the basic difference in different balance situations in the Cornot, Baratard and Chamberlain forms? What is the preconception about superstition firms in the Stackelberg format?
2. Write the details of Pareto optimal conditions. Can these conditions be fulfilled in the practical world?
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