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3 D 40200
Part B (Very Short Answer Questions)

Answer any ten questions.
Each question carries 2 marks.

Find the slope of the curve 2x =-—4y+6.
Define Consumption function.
If C= 200 + 0.5 Y, 1 =200. Find the equilibrium level of income.

Define Income elasticity.
Explain the properties of Cobb Douglas production function.
Explain the relationship between Average and marginal cost.

Find the slope and intercept on Y axis of the straight line 2y — 4x + 16 =0.

Explain the conditions for Maximization.
Given the AR= 100 — 2g obtain MR when q = 5.
Write a note on input output analysis.
Write a note on production’ possibility curve.
Explain market equilibrium.
(10 x 2 = 20 marks)
Part C (Short Essay Questions)

Answer any six questions.
Each question carries 5 marks.

Write a note on Homogeneous production function.

Write a note on Price, income and cross elasticities of demand.

Explain the necessary and sufficient conditions for equilibrium of a firm under perfect competition.
Write a note on Linear programming problem.
Find the optimum commodity purchase for a മല്ല whose utility function U =10 g;q. Budget
equation of the consumer is 100 = 50q, * 300). 5 3 :

If D = — 50p + 250 and S = 25p + 25 are the demand and the supply functions of a certain product.
Plot both the curves and obtain the equilibrium price and the quantity

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