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FIRST SEMESTER B.A. DEG ATION, NOVEMBER 2015
(CUCBCSS—UG) ಣ್ಣ
Core Ceéurse—Economics
ECO 1B 91—MICROECONOMICS—I
Time : Three Hours ۱ we न Maximum : 80 Marks

Answers may be written either in English or in Malayalam.
Part A
Answer all twelve questions.
1. The “compensated” demand curve is the demand curve that shows :
(a) Only the income effect.
(b) Only the substitution effect.
(c) Both the income and substitution effects.
(d) The Giffen good demand curve.

2. The market demand curve is derived by adding all the individual demand curves :

(a) Vertically. (b) Horizontally.
(c) In parallel. (6) Any of the above.
3. When the substitution effect of a lowered price is counteracted by the income effect, the good in
question is ; ⋅
(a) Inferior good. (b) Substitute good.
(c) Independent good. (d) Normal good.
4. Which of the following stands for the slope of a budget line ?
(a) MRS. (0) മഗ.
(०) MRP. (6) MRTS.
5. The elasticity measured at the point of ‘Y intercept of a linear demand curve is :
(a) 0. 0).
(൦) ००. (6) None of these.
6. Which 7 8 firm triples all inputs, and output triples as well, the firm is subject to:
(a) Constant returns to scale. (b) Increasing returns to scale.
(c) Economies of scale. (d) Decreasing returns to scale.

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