ECO401 Midterm Subjective Set 2 by Adil Alvi

ECO401 MIDTERM SUBJECTIVE QUESTIONS 2010-2019

1. Equilibrium of oil prices
2. Demand curve analysis aesa kuch tha
3. Short main firm wala
4. Production function long main.

Dec 16, 2019

1. Table deya hya tha opportunity cost ko explain krna tha.
2. Sunk cost
3. explain firms, modern theory
4. aik taxation ky about tha

Dec 16, 2019

1. Define marginal rate of substitution
2. Graph tha shortage surplus and equilibrium determine krny thy
3. Command economy and capitalist economy ky characteristic batao
4. Sunk cost define karo with example
5. Demand curve kesy change ho ga

Dec 17, 2019

2018

Q1. Differentiate between long run and short in economics? (3 marks)

Q2. Scarcity have three basis economic questions regarding resources. So discuss these basic economic questions. (3 marks)

Q3. Briefly explain the rational choices? (3 marks)

Q4. It’s a numerical question to find out the average physical product. Table was given. 5 mark 5. It’s also numerical question to find out the marginal utility function, firm total utility function. (5 marks)

6. This question firm demand curve that if the prices of butter will be increase then what will be effect on equilibrium price? 5 mark. Dec 9, 2017

Q1. Calculate cross price elasticity.

Qd of good A

1. 90, 2) 150

Price of good B

1. 12, 2) 16

Q2. Difference b/w total utility and marginal utility.

Q3. Books, cost=300, benefit (su) =15

Charity, cost=300, benefit (su) =22 Now Ali want to buy a book. You have to answer that will ail buy book? Why?

Q4. Calculate the Qd and Qs (1000-200P) and (300+150P), p=3.

And also tell is it condition of shortage or surplus?

Q5. use isoquant analysis and draw a graph at optimum consumptions of factors of production

Jun 3, 2017

Q1. Ahmad is offered a job of an accountant at two cities, one in Lahore and other in Faisalabad. Following table shows the cost & benefit analysis of both jobs. Calculate Net benefit of each job and state which job is more suitable for Ahmad. (3 marks)

Benefit (Salary) Cost (transportation) Job in Lahore 15,460 2,255 Job in Faisalabad 20,580 9,634

Q2. Differentiate between Average Physical Product (APP) and Marginal Physical Product (MPP) with the help of their formulas? (3 marks)

3. Following figures shows the Production Possibility Curve for the two goods rice & Cotton. Interpret what do the point C, X, & Z shows? (5 marks) es k nechy aik line graph diya howa tha...

Q4. Given the Total Utility function, TU = 6Q-4Q2, Complete the following table. (5 marks)

Output(Q) Total Utility (TU)

Q5. A demand function is given by Qd = 400-0.5Y for an inferior good, where Y is total Income, Calculate Quantity Demanded (Qd) at following Income levels? (5 marks)

Income(Y) Quantity demanded (Qd)

Jun 6, 2017

Q: Features of Islamic economic system? (5) Q: law of demand? (3) Q: solve the quadric equation in term of product demand: Pd= 10p+2p were p=2(3) Q: Price consumption curve? What will be the effect on budget if price goes up? (5) Q: What is long run and short run? 3 marks