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MMPC010 IGNOU Assignment Question for Answer
1. What is Opportunity Cost? Explain with the help of an example why assumption of constant opportunity costs is very unrealistic.
2. Explain law of demand with the help of a demand schedule and demand curve. Does law of demand exist in the real world, explain with the help of an example.
3. How are Isoquants different from Isocost? Illustrate using graphs.
4. Monopoly has been stated as undesirable? Take any real life example of Monopoly in India and state its advantages and disadvantages.
5. Write short notes on the following:-
(a) Value Maximization
(b)Direct Costs and Indirect Costs
(c) Bundling
Before June 2023
Old Set
1. “The Equi-Marginal Principle can be applied to both consumption as well as production.” Discuss this statement with the help of an example.
2. (a) Explain the demand function for a particular product.
(b) Differentiate between individual and market demand curve.
3. “An analytical tool frequently employed by managerial economists is the break even chart an important application of cost function.” Explain this statement.
4. Oligopoly is the most prevalent form of market structure in the manufacturing sector. Explain with the help of an example.
5. Write short notes on the following:
(a) Price Discrimination
(b) Bundling
(c) Time-series analysis
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