ECO402 Final Term Past Paper 2018

Rana Abubakar Khan

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FEBRUARY 17, 2018 AT 8:18PM

Total mcq 26 short 5 question of 3 number Long 5 question of 5 number

Profit,MR,MC find krna tha?

long my Cartel ,Oligopoly ,Monopoly. ki characteristics with Example likhni thi.. Or1 Graph ka Q tha long

past pprs my sy khuch ni aya tha

MUHAMMAD RASHID ON FEBRUARY 22, 2018 AT 6:59PM

Dear Colleagues.

I have done my ECO402,

And I did copy almost all of my exam paper to all of same subject colleagues,

Hope its help. Q: Suppose a monopolist is producing 2000 units of output and selling these units at price (P) of Rs. 150 per unit. Average cost (AC) of output is Rs. 120. Calculate profit of the monopolist from the given information.

Q: How does elasticity of market supply relates to the degree of buyers’ monopsony power?

Q: When does a firm decide to shut down production in the short run?

Q: A market structure in which there is one large firm that has a major share of the market and many smaller firms supplying the remainder of the market is called dominanat firm model.

Q: When an oligopolistic market is in Nash equilibrium?

Q: What would be the effect of price control on consumer surplus when the demand is sufficiently inelastic?

Q: Explain briefly the three SALIENT FEATURES OF OLIGOPOLY market and write down two examples of this market structure

Q: Describe and explain three factors which affect the degree of buyers’ monopsony power.

Q: What is the profit maximizing condition of a firm working under perfect competition?

Q: A garment factory is producing ready made garments of babies. Data on level of output (Q), prices (P) and total cost (TC) of this factory is given below.

Q · P · TC · Total Revenue · (TR) · Profit

Calculate the total revenue and profit, that the garment factory is making at each level of output

Q: Suppose a firm is employing two inputs labor and capital; capital is fixed and firm is changing only labor input to maximize its profits. What will be the firm decision regarding hiring of labor in order to maximize its profits in the following situations?

Situations

Decision regarding labor (Increase/Decrease/Constant) Marginal revenue product of labor (MRPL) is greater than WAGE RATE.

Marginal revenue product of labor (MRPL) is less than

WAGE RATE.

Marginal revenue product of labor (MRPL) is equal to

the WAGE RATE.