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Posted By: aravindsri Member Level: Gold Posted Date: 02 Jun 2008
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2005 Indira Gandhi National Open University (IGNOU) M.B.A IGNOU MS9 Managerial Economics December 2005 Question paper
IGNOU MS9 Managerial Economics December 2005
MANAGEMENT PROGRAMME
Term-End Examination
December, 2005
MS9 : MANAGERIAL ECONOMICS
Time: 3 hours
Maximum Marks: 100
(Weightage 70%)
Note : This paper contains three Sections, A, B and C. Section A is to be attempted by students registered for MS-9 prior to January 2004 i.e. upto July 2003. Section B is to be attempted by students registered for MS-9, from January 2004 onwards. Attempt any three questions from Section A or B depending upon your date of registration. Section C is compulsory for all. section C comprises 40 marks while Sections A and B comprise 5 questions of 20 marks each.
SECTION A
1. Discuss the role of any two of the following in Decision Making :
(a) Marginal Return on Investment
(b) The Equi-Marginal Principle
(c) The Opportunity Cost Principle
2. Explain the law of demand. What causes the market demand curve for a commodity to shift upwards and to shift downwards ? Give examples ?
3. Explain with the help of graph(s) how the long run average cost curve (LRAC) is derived from the short run average cost curves (SRAC).
4. From the information given below, calculate the Marginal Utility for each unit consumed and interpret the result.
Units Consumed
(in units) of commodity Total Utility
(in units) Marginal Utility
(in units)
1 10
2 13
3 20
4 27
5 30
6 33
7 30
5. Write short notes on any three of the following :
(a) Entry barriers
(b) Decision tree
(c) Price-cross-elasticity of demand
(d) Internal rate of return
(e) Optimisation
SECTION B
1. Discuss the fundamentals of Managerial Economics. Explain the scope of Managerial Economics as tools of managerial decision making.
2. (a) Explain the law of demand.
(b) What are the differences between a firm's demand curve and market demand curve ? Give illustrations.
3. Explain the econometric method of estimating cost function. Why is this method more popular than the other methods of cost estimation ?
4. (a) Distinguish between perfect competition and oligopolistic competition. Give examples.
(b) Explain the concept of product differentiation with special reference to monopolistic competition.
5. Write short notes on any three of the following :
(a) Delphi technique
(b) Opportunity cost
(c) Cross-price elasticity
(d) Distinguish between accounting costs and economic costs
(e) Pricing of joint products
SECTION C
6. Define forecasting technique. Discuss the various types of forecasting techniques. (30)
7. The production department of a firm reported the following information for the month of May 2005.
Rs.
Wage Bill 20,000
Value of raw materials 60,000
Interest 6,000
Fuel Consumption 10,000
Rent 4,000
Units of output produced 2,000
Calculate
(i) Average cost
(ii) Average variable cost
(iii) What would be the total profit of the firm if it sells the entire output at a price of Rs. 60 per unit ? (10)
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