Madras University TEA6B MANAGERIAL ECONOMICS April 2016 Question Paper

Madras University Previous Years Question Papers

April 2016 Question Paper

APRIL 2016 61787/TEA6B

Subject Code: TEA6B

Subject: MANAGERIAL ECONOMICS

Time : Three hours Maximum : 75 marks

PART A — (10 x 2 = 20 marks)

Answer any TEN questions.

1. Define managerial economics.

2. What is disposable income?

3. What is the meaning of utility?

4. Define law of demand.

5. What are the three types of demand?

6. State any two factors affecting supply.

7. What is marginal cost?

8. What is market?

9. Define pure competition.

10. Define marginal revenue.

11. Define Isoquant curve.

12. Write down the Cobb-Douglas production function.

PART B — (5 x 5 = 25 marks)

Answer any FIVE questions.

13. Why does demand curve slope down wards?

14. Explain various importance of elasticity of demand.

15. Explain law of diminishing marginal utility.

16. Explain the various determinant of supply.

17. State the various properties of indifference curves.

18. What are the features of perfect competition?

19. Write a note on constant elasticity of substitution (C.E.S).

PART C — (3 x 10 = 30 marks)

Answer any THREE questions.

20. Discuss the nature and scope of managerial economics.

21. Discuss the relation between demand and supply. 

22. Calculators are sold to students for 20 dollors each. Three hundred students are willing to buy them at that price. For every 5 dollor increase in price there are 30 fewer students willing to buy the calculators. What will the maximum revenue be?

23. Explain the various differences between pure and perfect competitions.

24. Define production function. Explain in brief the managerial uses of production function.

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