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SECOND SEMESTER B.A. DEGREE EXAMINATION, MAY 2016
(CUCBCSS—UG)

Time

Core Course—Economics
ECO 2B 02—MICROECONOMICS-II

: Three Hours Maximum : 80 Marks
Answers may be written either in English or in Malayalam.
Part A
Answer all twelve questions.
The opportunity cost of the inputs that do not require a monetary payment is :
(a) Accounting cost. (b) Implicit cost.
(c) Explicit cost. (d) Economic cost.
The positively sloped portion of the marginal cost curve is the result of :
(a) Increasing returns. (b) Constant Returns.
(c) Diminishing Returns. (d) Constant Variable cost.
Economic profit is the difference between total revenue and
(a) Explicit Cost. (b) Implicit cost.
(c) Accounting cost. (d) Economic cost.
The price that is equal to the minimum average variable cost of the firm is called :
(a) Break — Even price. (b) Equilibrium Price.
(c) Shut Down Price. (d) No Loss-No Profit Price.

The allocative efficiency under perfect competition is attained when :
(a) Producer’s surplus is maximum.
(b) Consumers’ Surplus is —,
(c) Producers’ Surplus exceeds Consumers’.

(d) Sum of Consumers’ and Producers’ Surplus is maximum.

Turn over