Wah College of Accountancy

B.com-Part 1
Course: Economy of Pakistan Total Marks: 100

Time: 3 Hrs

Note: Attempt any five questions, each question has equal marks. (20)

Q 1. What are indifference curves ‘Discuss any three properties of indifference curves.

Q 2. Explain the Law of Diminishing Marginal utility with the help of schedule and diagram.

Q 3. State and explain the law of variable proportions with the help of schedule and diagram.

Q 4. What is Monopolistic Competition? How is price and output determined under

Monopolistic

competition.

Q 5. Discuss the economics role of State in lslam.

Q 6. Critically examine Robbin's definition of Economics.

Q 7. Explain the modern theory of factor pricing and criticize it.

Q 8. For the following TOTAL COST FUNCTTON:

TC=95+7.5q_10q2+3q3

Find

 Average Cost
 Marginal Cost
 Average Variable Cost
 Why the given function is short run function?

…………………………………………………………GOOD LUCK……………………………………………………………………