D 43268 (Pages : 4) Name.........

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SECOND SEMESTER B.A. DEGREE EXAMINATION, MAY 2018
(CUCBCSS—UG)
Economics 5
ECO 2B 02—MICRO ECONOMICS—II
Time : Three Hours Maximum : 80 Marks

Answers may be written either in English or in Malayalam.
Part A

Answer all questions.
Each question carries ¥2 mark.

1. Ina perfectly competitive market the demand curve for labour :
(a) Slopes upward.
(b) Slopes downward because of diminishing marginal productivity.
(c) Is perfectly elastic at the equilibrium wage rate. `
(d) None of these.
2. While analysing the marginal productivity theory of distribution, Clark gave more emphasis on :
(a) Demand for labour.
(b) Supply of labour.
(c) Both demand as well as supply of labour.
(d) Profit maximisation.
3. Quasi rent was the concept of :
(a) Adam Smith. (b) Ricardo.
(c) Pigou. (d) Marshall.
4. Under monopolistic competition goods produced are :
(a) Heterogeneous. (b) Homogeneous.
(c) . Differentiated. (9) Luxuries.
5. Identify the main characteristic of Oligopoly :
(a) Sufficiently large sellers. (b) One seller.

(c) Few sellers. (d) Too large sellers. Turn over