Posted by : Ahsan Khan Tuesday, 26 February 2013



UNIVERSITY OF THE PUNJAB, LAHORE
PART – I                                 A/2007
Examination: - B. Com.

                                                                                                Roll No. . . . . . . . . . . . .
                       

Subject: - Economics                                                           TIME ALLOWED: 3 hrs.
Paper: - BC-303                                                                     MAX. MARKS: 100
 

Attempt any FIVE questions including Question No. 1 which is compulsory.
All questions carry equal marks.

Q. 1.    Write short answers for the following (Compulsory Question)     20


(i)            Define Marginal Rate of Substitution (MRS).
(ii)           Why an Indifference Curve is convex to the origin?
(iii)          Define Point Elasticity of Demand.
(iv)         What is Floor Price?
(v)          Write down the formula of Arc Elasticity of Demand?
(vi)         Define Kinked demand curve?
(vii)        Define liquidity Preference.
(viii)       Define Gross National Product (GNP).
(ix)         Define progressive Tax.
(x)          Define a derivative.

Q. 2.    State and explain the law of Diminishing Marginal Utility with the help of a schedule and diagram.                                                                            20

Q. 3.    Define an Indifference curve. Show and explain how a consumer reaches equilibrium with the help of Indifference Curves.                               20                           

Q. 4.    Define Income and Cross Elasticity of Demand. Explain their measurement with the help of mathematical examples.                                              10,10

Q. 5.    Distinguish between Fixed Cost and variable Cost. Explain the Family of Costs with the help of Schedule and diagrams.                                          5,15

Q. 6.    Define Monopolistic Competition. Explain short and long run Equilibrium of a firm under Monopolistic Competition.                                                         5,15

Q. 7.    Critically examine Ricardian Theory of Rent.                                                     20

Q. 8.    Discuss various Canons or Principles of Taxes.                                     20


Q. 9.    Given the following total cost function.                                             5,5,5,5

                                    TC = 35 + 5Q – 2Q2 + 2Q3
Find.
(i)            MC function
(ii)           Average Total Cost (ATC).
(iii)          Average Variable Cost (AVC).
(iv)         Value of MC, ATC and AVC           where     Q = 5
 
 
UNIVERSITY OF THE PUNJAB, LAHORE
PART – I                     A/2008
Examination: - B. Com.

                                                                                                Roll No. . . . . . . . . . . . .
                       
Subject: - Economics                                                           TIME ALLOWED: 3 hrs.
Paper: - BC-303                                                                     MAX. MARKS: 100
 

Attempt any FIVE questions including Question No. 1 which is compulsory.
All questions carry equal marks.

Q. 1.    Write short answers for the following (Compulsory Question)     20

                      I.    How did Robbins define Economics?
                    II.    State the four conditions of relationship that exist between TU and MU.
                   III.    Distinguish between Cardinal and Ordinal Utility.
                  IV.    Write down the formula of Income Elasticity of Demand.
                    V.    Distinguish between Fixed Cost and Variable Cost.
                  VI.    State the necessary and sufficient conditions of equilibrium of a firm.
                 VII.    What is an envelope curve?
                VIII.    What are the motives behind Liquidity Preference?
                  IX.    Define progressive Tax.
                    X.    Define a derivative.

Q. 2.    State and explain the law of Equi-MU with the help of a schedule and diagram. What are its limitations?                                                    15,5

Q. 3.    What is an Indifference curve? State and prove the main properties of Indifference Curves by diagrams.                                                            5,15

Q. 4.    Define Price Elasticity of Demand. Explain various methods of measurement of Price Elasticity.                                                                         5,15

Q. 5.    State and explain the Law of Variable Proportion with the help of a Table and Diagram.                                                                                         20

Q. 6.    Define Monopoly. Explain short and long run Equilibrium of a firm under Monopoly.                                                                                              5,15

Q. 7.    State and explain Marginal Productivity Theory of Distribution. On what grounds it has been criticized?                                                    15,5

Q. 8.   Define National Income. Explain various methods of measurement of National Income.                                                                            5,15

 

Q. 9.    Given the following total cost function.                                        5,5,5,5

                                    C = 5000 + 1000Q – 40Q2  + 2/3Q3
                  I.    Find MC function
                II.    Find Slope of MC function
               III.    Find AVC function
              IV.    At what level of output MC = AVC



 
UNIVERSITY OF THE PUNJAB, LAHORE

PART – I                     A/09

Examination: - B. Com.

                                                                                                Roll No. . . . . . . . . . . . .
                       

Subject:  Economics                                                            TIME ALLOWED: 3 hrs.
Paper:  BC-303                                                                      MAX. MARKS: 100
 

Attempt any FIVE questions. All questions carry equal marks.

Q. 1.    Compare Robbin’s and Marshall’s definitions of Economics. Which one is better?

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

 Q. 3.    Define and explain Price Elasticity of Demand, Income Elasticity of Demand and Cross Elasticity of Demand.

 Q. 4.    Critically examine Ricardian Theory of Rent.                                                    

 Q. 5.    What is Monopolistic Competition? How is price and output determined under monopolistic competition?                                                

 Q. 6.    Define National Income and explain various Concepts of National Income.                                                                                           

Q. 7.    Discuss the various principles or canons of taxation followed by Modern governments.                                             

 Q. 8.   The total cost function is given:         

                         

                                    TC = 85 + 15Q – 2Q2  + 2Q3

a)    Find FC and VC

b)    Find MC

c)    Find slopes of MC and AVC






 
UNIVERSITY OF THE PUNJAB, LAHORE

PART – I                     A/10

Examination: - B. Com.

                                                                                                Roll No. . . . . . . . . . . . .
                       
Subject:  Economics                                                            TIME ALLOWED: 3 hrs.
PAPER:  BC-303                                                                   MAX. MARKS: 100
 


Attempt any FIVE questions.
All questions carry equal marks.

Q. 1.    State and explain Marshall’s definition of Economics. On what grounds it has been criticized?

Q. 2.    State and explain the Law of Equi-Marginal Utility with the help of schedule and diagram.                        

 Q. 3.    Define an Indifference curve. State and prove the main properties of Indifferences with the help of diagrams.

 Q. 4.    Define Income and Cross Elasticity of Demand. Explain various methods of their measurement.                                         

 Q. 5.    State and explain the Law of variable proportion with the help of a schedule and diagram.                                                

Q. 6.    Define “Perfect Competition”. Explain Short and Long run equilibrium of a firm under Perfect Competition.                                                                               

Q. 7.    Discuss various Canon OR Principles of Taxes by giving examples.                                                   

 Q. 8.   Given the following total cost function:          

                         

                                    TC = 200 + 50Q – 4Q2  +  Q3

i)    Find the Marginal and Average total cost function.

ii)   Find Average variable Cost and the slop of Marginal Cost function.



 
 
UNIVERSITY OF THE PUNJAB, LAHORE

PART – I                     A/11

Examination: - B. Com.

                                                                                                Roll No. . . . . . . . . . . . .
                       
Subject:  Economics                                                            TIME ALLOWED: 3 hrs.
PAPER:  BC-303                                                                   MAX. MARKS: 100
 


Attempt any FIVE questions.
All questions carry equal marks.

Q. 1.    Distinguish between Micro and Macro Economics and explain their importance.

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

 Q. 3.    Define Price Elasticity of Demand. Describe the methods to measure Price Elasticity of Demand.

 Q. 4.    Critically examine the Liquidity Preference Theory of Interest.

                        

Q. 5.    What is Monopolistic Competition? How is price and output determined under Monopolistic Competition?                                               

 Q. 6.    Define National Income. Point out the difficulties in its correct measurement.                                                 

Q. 7.    Define Direct and Indirect taxes. Give examples and examine their comparative advantages and disadvantages.                                                    

 Q. 8.   The total cost and total revenue functions are given:

                         

                        (a)        TC = 5Q2  +  8Q + 20
                        (b)       TR = 15Q – Q2

i)    Find the Marginal and Average total cost function.
ii)   Find MR and AR at Q = 3.





 
 
UNIVERSITY OF THE PUNJAB, LAHORE

PART – I         A/12

Examination: - B. Com.

                                                                                                Roll No. . . . . . . . . . . . .
                       

Subject:  Economics                                                            TIME ALLOWED: 3 hrs.
PAPER:  BC-303                                                                   MAX. MARKS: 100
 



Attempt any FIVE questions.
All questions carry equal marks.


Q. 1.    State and explain Marshall’s definition of Economics. On what ground it has been criticized?

Q. 2.    State and explain the law of Equi-Marginal Utility with the help of a schedule and diagram.

Q. 3.    Define an indifference curve, state and prove the main properties of indifference curves with the help of diagrams.

Q. 4.    State, explain and criticize Ricardian Theory of Rent.

Q. 5.    What is Perfect Competition? How is the price and output determined under Perfect Competition?

Q. 6.    Explain the different methods of measurement of National Income.

Q. 7.    What is the role that an Islamic State can play in a modern society?

Q. 8.    The cost function is:

            TC = 1000 + 25Q – 5Q2 + Q3
            (i) Find MC, AC and AVC
            (ii) Find slope of MC and AVC

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