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25.

3 C 1381

Section B

Answer at least six questions.

Each question carries 3 marks.

All questions can be attended.
Overall Ceiling 18.

What is an objective function? _
Define Market
Convert the following primal problem into dual problem :

Maximize 4X + 6Y

SA. 2X+4Y<12
45+ 3 > 6
% ൭0൬20.

What do you mean by factor intensity ?
Define utility theory.

What is meant by linear homogeneous production function ?
Interpret the consumption function formula, C=a+6 Yd.

The profit function equation is made up of two primary functions. Identify them.
What is optimal solution ?

What is an indirect utility function ?

Can AC fall, when MC is rising ? Substantiate your argument.

Find out marginal utility from the total utility function

U =20 x4 +725 413 x7 4+12x+9.
(6 x 3 = 18 marks)
Section C

Answer at least four questions.

Each question carries 6 marks.

All questions can be attended.
Overall Ceiling 24.

Determine the equilibrium price and quantity and maximum profit of a monopolist whose demand
and cost junctions are :

۶ = 80 - 51, ‏و2‎ = 180 - 2028, © = 50 + 20 (Q, + ९2). न Turn over