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    This document contains questions about microeconomics topics including determinants of demand, elasticity of demand, production functions, costs, revenues, and firm equilibrium. Specifically, it asks about the determinants of demand, extensions and contractions of demand, price elasticity of demand, production possibility frontiers, differences between economic and accounting costs, relationships between average revenue, marginal revenue and total revenue, and how equality of marginal revenue and marginal cost indicates firm equilibrium.

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    Economics question for MBA

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    This document contains questions about microeconomics topics including determinants of demand, elasticity of demand, production functions, costs, revenues, and firm equilibrium. Specifically, it asks about the determinants of demand, extensions and contractions of demand, price elasticity of demand, production possibility frontiers, differences between economic and accounting costs, relationships between average revenue, marginal revenue and total revenue, and how equality of marginal revenue and marginal cost indicates firm equilibrium.

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    © All Rights Reserved
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    9 views1 page

    Economics Question For MBA

    Uploaded by

    alam
    This document contains questions about microeconomics topics including determinants of demand, elasticity of demand, production functions, costs, revenues, and firm equilibrium. Specifically, it asks about the determinants of demand, extensions and contractions of demand, price elasticity of demand, production possibility frontiers, differences between economic and accounting costs, relationships between average revenue, marginal revenue and total revenue, and how equality of marginal revenue and marginal cost indicates firm equilibrium.

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    © All Rights Reserved
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    of 1

    Q15: What are the main Determinants of Demand?

    Explain

    .returns to scale

    Property of isoqunat

    Q3: Explain the concept of Extension, Contraction, Increase and Decrease in Demand.

    Q4: What do you mean by Elasticity of Demand? Explain Price Elasticity of Demand.

    Q5: What is production probability frontier? Explain.

    Q8:

    Q: What is micro economics? Explain its importance.

    Q: Distinguish between economic cost and accounting cost. Which should be taken in to account for calculating
    the economic profits of the firm?

    Q: Explain the concepts of average revenue, Marginal Revenue, and total revenue. Show how they are related to
    each other
    Q: Define firm’s equilibrium. Show that equality of marginal revenue with marginal Cost is the necessary
    condition for the firm’s equilibrium regarding price and output. Illustrate with a diagram.

    Q4: What is Short Run Production Function? Explain Law of diminishing Return.

    Q5: What do you mean by Cost Analysis? Explain different type of cost with the help of examples.

    Page 1 of 1

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