Question

(Mid Term, Marks = 3, Lesson No. )

What will be the incidence of tax in the following situation?
a) The demand curve is inelastic.
b) The supply curve is inelastic.

Answer:

Question

(Mid Term, Marks = 3, Lesson No. )

Why the income consumption curve is often drawn as positively sloped at low levels of income?

Answer:

Question

(Mid Term, Marks = 5, Lesson No. )

Explain the "Ttraditional theory of the firm" with help of its basic equation.

Answer:

Question

(Mid Term, Marks = 3, Lesson No. )

Identify the factors which can affect the income elasticity of demand.

Answer:

Question

(Mid Term, Marks = 3, Lesson No. )

Differentiate between the shape of demand curve in oligopoly and monopoly.

Answer:

Question

(Mid Term, Marks = 5, Lesson No. )

Write down the advantages and disadvantages of monopoly.

Answer:

Question

(Mid Term, Marks = 5, Lesson No. )

Use the indifference curve analysis to show the optimum consumption point for the consumer. At which point the consumer will be in equilibrium?

Answer:

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