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Important announcement: (Last date of submission for January 2023 session is 30th April, 2023 and for July 2023 sessions is 31st October, 2023)
1. “The definition of cost is quite different for the economist than for an accountant”. Discuss with the help of an income statement calculating both accounting as well as economic profit.
2. “Market demand curve is the total of the quantities demanded by all individual consumers in an economy at each price”. Show the derivation of market demand curve diagrammatically.
3. Explain the following concepts briefly:
(a) Price Elasticity of Demand
(b) Arc Elasticity of demand
4. Explain the relationship between Average Product, Marginal Product, and Average Variable Cost, Marginal Cost with the help of diagrams.
5. “Perfect competition and monopoly are two extreme market conditions which we rarely come across in real world of business”. Discuss their relevance in today’s business world.
6. Write short notes on the following:
(a) Product Differentiation
(b) Discounting Principle
(c) Returns to Scale
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1. “Profit Maximization is the main objective of a firm”. Discuss this statement with the help of an example.
2. What are the marketing approaches to demand measurement? Explain how the Delphi Technique is different from Market Experiments Technique?
3. Find (1) the marginal and (2) the average cost functions for the following total cost function. Calculate them at Q=4 and Q=6
TC=3Q2+7Q+12
4. Oligopoly is the most prevalent form of market structure in the manufacturing sector. Describe this statement with the help of an example.
5. Does Price Discrimination exist in the real world? Discuss with reference to any particular product or service?
6. Write short notes on the following:-
(a) Market Demand Schedule
(b) Direct Costs and Indirect Costs
(c) Peak Load Pricing
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IGNOU MS09 Assignment Question
1. Explain Equi Marginal Principle. Discuss how a rational decision maker would allocate resources in such a way that the ratio of marginal returns and marginal costs of various uses is the same?
2. How does market demand curve calculates the total of the quantities demanded by all individual consumers in the economy or market area?
3. How can Price Elasticity be estimated for many goods and services? Explain the influence of Price Elasticity on decision making.
4. Explain the Law of Diminishing Marginal Returns. How does the Marginal Product of the variable input declines when other inputs are kept constant?
5. Describe the characteristics of a perfectly competitive market. Explain giving an example.
6. Write short notes on any two of the following:-
(a) Constrained Optimisation Technique.
(b) Expert opinion
(c) Breakeven Ouput Level
