F 08000HS200122003 Pages: 3

Reg No.: Name:
APJ ABDUL KALAM TECHNOLOGICAL UNIVERSITY
Third Semester B.Tech Degree (S,FE) Examination January 2022 (2015 Scheme)

Course Code: HS200
Course Name: BUSINESS ECONOMICS

Max. Marks: 100 Duration: 3 Hours
PARTA
Answer any three questions, each carries 10 marks. Marks
1 a) How the knowledge about business economics helps a manager in his business. (4)

b) Define Production Possibility Curve. Suppose the production of acommodity is (6)

at a point inside the PPC, what does it means by and illustrate with the help of a

diagram.
2 2) Diagrammatically illustrate the law of diminishing Marginal Utility and its (5)
assumptions.
b) What are the factors that influence the demand for a product? (5)

3 ஐ State and illustrate the concept of equilibrium price. Explain with the help of (6)
diagram the situation of excess demand, excess supply and how it gets
corrected by the market forces.

b) The demand and supply curves of a commodity are given as நெ 25-0.5P and (4)
Qs= -5+P. Find the equilibrium price and quantity.

4 a) Define Production Function. At what stage does the producer stops production (5)
in short run as per the Law of Variable Proportion? Elucidate the answer with
the help of diagram.

b) Ina production function Q= 2161? What will be the maximum output that (5)
can be produced, when L is 16 and K is 144? Also calculate the Average and
marginal Product of labour from the function.

PART 13
Answer any three questions, each carries 10 marks.
5 a) Can AC equate AVC at any level of output? If not, why? Suppose the AC ೦೩ (5)

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