Question
Give two examples of micro economic studies.
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Answer
Study of consumer’s equilibrium, producer’s equilibrium, etc.
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Suppose a consumer whose income is ₹ 30 wants to consume two goods which are priced ₹ 5 each.
- Write down all the bundles that are available to the consumer.
- Among the bundles that are available to the consumer, identify those which cost him exactly ₹ 30.
How a consumer will reach to the equilibrium point, if market rate of exchange is not equal to MRS?
Calculate 'value of output' from the following data:
| S.No. | (Rs. lakhs) | |
| 1 | Net value added at factor cost. | 100 |
| 2 | Intermediate consumption. | 75 |
| 3 | Excise duty. | 20 |
| 4 | Subsidy. | 5 |
| 5 | Depreciation. | 10 |
From the following data, calculate “gross value added at factor cost”.
| S.No. | Rs.(in lakhs) | |
| 1. | Sale. | 180 |
| 2. | Rent. | 5 |
| 3. | Subsidies. | 10 |
| 4. | Change in Stock. | 15 |
| 5. | Purchase of raw materials. | 100 |
| 6. | Profits. | 25 |
Why supply curve of foreign exchange is upward sloping?
At what level of price do the firms in a perfectly competitive market supply when free entry and exit is allowed in the market? How is equilibrium quantity determined in such a market?
Explain the implication of large number of buyers in a perfectly competitive market.
What is disinvestment? Does it refer to revenue receipts or capital receipts of the government? Give an example.
What is the behaviour of TP, when:
- MP rises.
- MP falls, but remains positive.MP is zero.
- MP becomes negative?
In a circular flow of income, we have:
- Production.
- Distribution.
- Disposition.
- All of them.