BECC-101 · December 2021 · English
IGNOU BECC-101 December 2021 Previous Year Question Paper
INTRODUCTORY MICRO ECONOMICS
Structured previous year question paper for BECC-101, December 2021 session.
Max marks: 100 · Questions: 9 · Sections: 2
Verified: 5 Aug 2026
(b) On which part of the production possibility
curve does production take place when
F T N
BACHELOR OF ARTS (HONOURS) resources are under-utilised ? Explain
ECONOMICS PROGRAMME (BAECH) using a diagram. 6
पु' E ४ ४
(c) What could bring a shift in the production
Term-End Examination
possibility curve ? 6
December, 2021
Q1.Consider an equation : BECC-101 : INTRODUCTORY MICROECONOMICS Q=u-vP
(3) Time : 3 Hours Maximum Marks : 100 where Q stands for quantity of a commodity, TT P for price of that commodity, u and v represent Note:Answer questions from each Section as any constant numbers. directed. Answer the following questions :
(a) Is the given equation, a demand or a
Section—A supply equation ? Give reason for your
. Also di th ti
Note: Answer any two questions from this answer. 2dS0 draw tae curve representing
such an equation. 6
Section. 2x 20= 40 . हि
(9) Now consider another equation :
. . spas Q=w+xP wee
(B)
Q2.(a) Define a Production Possibility curve along Here again Q stands for quantity of a with underlying assumptions. 8 . . . commodity, P for price of that commodity, w and x represent any constant numbers.
(b) “Marginal revenue curve under the kinked Considering equations
(A) and
(8), demand curve model cannot be obtained as determine the equilibrium price (P*) and a continuous curve.” Do you agree with this . . statement ? Illustrate and elaborate. 10 quantity (Q*) of the commodity.
Section—B
(c) Let w= 600, v = 2, w = 300 and x = 4. What
Note:Answer any four questions from this
will be the values of equilibrium price (P*) .
Section. 4x12=48
and quantity (Q*) ? 6
Q3.(a) What is meant by price elasticity of
Q4.(a) “A long-run average cost (LAC) curve some . supply ? Illustrate an infinitely elastic envelopes the short-run average total cost supply curve. How does the shape of this (SATC) curves.” Elucidate using supply curve change when supply becomes appropriate diagram. 10 elastic ? 8
(b) “The behaviour of the firm which seems to
(b) Discuss the determinants of price elasticity be efficient in the short-run may be found of supply. 4 to be inefficient in the long-run.” Do you 6. Explain the law of diminishing marginal utility agree with this statement ? Give with the help of a diagram. Also derive a demand curve using the law of diminishing reasons. 10 marginal utility.
Q5.(a) Compare the long-run — equilibrium
Q6.Does tangency of indifference curve with the positions under perfect competition and . . . . budget line always result in optimal solution for the monopolistic competition market the consumer utility maximisation structures. 10 problem ? Elaborate. 12 [6]
Q7.Consider the figure ahead, where capital (K) 10. Write short notes on the following : and labour (L) are the factors of production in
(a) Scarcity lies at root of all economic producing output. Ii, Iz, Is represent isoquants activities 3 for output levels 550, 650 and 750 units, respectively :
(b) Indifference map 3 _
(c) Quasi rent 3 डर
(d) Moral hazard 3 & Section—C We 750 Note:Answer both the questions from this 15650 Section. 2x6=12
Q8.=550 0 Labour
(1) 11. What is meant by a negative externality ? Also write down two different forms of government
(a) Identify the returns to scale represented by intervention adopted to solve the problem of the above set of isoquants. What are externality. 6 the fact that lead t h ret t : : © Factors waar 88५ fo sued reruns 10 12. Differentiate between Cournot model and the scale ? 6 . Stackelberg model of oligopoly. 6
(b) Distinguish between real and pecuniary internal economies.
Q9.Describe the conditions under which perfectly competitive markets fail to achieve the efficient allocation of resources. 12 3 (<) Afra wat (Moral hazards) 3 125650 2x6 =