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# Micro Economics Theory, MA Economics Sargodha University Past Papers 2015

### Sergoda University MA Economics Paper-I Micro Economics Theory Past Papers 2015

Here you can download Past Papers of Paper-I Micro Economics Theory, MA Economics Part One, 1st & 2nd Annual Examination, 2015 University of Sergoda.

#### Micro Economics Theory UOS Past Papers 2015

M.A. Economics Part – I

Paper-I(Micro Economics)     1st Annual Exam.2015

Time: 3 Hourse                                        Marks:100

Note: Objective part is compulsory. Attempt any four questions from subjective Part.

Objective Part

Q.1: Write short answers of the following. Organize diagram and schedules where necessary.

1. What is homogeneous production function?
2. Explain consumer surplus.
3. Define Choke Price.
4. What are economies of scale?
5. What is concept of risk neutrality?
6. Lay-out an indifference curve for complementary goods.
7. Why demand curve is horizontal under perfect competition?
8. How can you define Monoposony?
9. Explain the concept of Prisoner’s Dilemma.
10. What is Cardinalist Criterion of welfare?

Subjective Parts

Q.2:     Critically discuss the theory of Revealed Preference by P.A. Samuelsons.

Q.3:     By using Cob-Douglas model i.e. X=ALb1 Kb2, derive and discuss the following:

1. The average and marginal products of factors.
2. The marginal rate of technical substitution.
3. The elasticity of substitution
4. Factor intensity
5. The returns to scale
6. Efficiency parameter

Q.4:     Explain modern theory of cost by discussing following short run concepts:

i. Average fixed cost ii. Average variable cost

iii. Marginal cost                     iv. Average total cost

Q.5. (a)   Differential bilateral monopoly & duopoly.

A double plant monopolist possesses following demand and cost function. X=200–2P, C1 = 10X1, C2 = 0.25. .The goal of the monopolist is to maximize profit. Find out the price and respective quantities to attain the goal of profit maximization. Also prove second order condition of profit option.

Q.6:     Explain Edgeworth model in detail. How this model is similar to Cournot’s thinking.

Q.7:     Write note on the following:

a. Ridge Lines b. Production possibility curve