IGNOU BECC-102 December 2020 Previous Year Question Paper

Q1.The demand for soft drinks is given by the equation Q = 100 — 2P, where P is the price per bottle and Q is the number of bottles demanded.

(a) Write down the equations for total revenue, marginal revenue and average revenue.

(b) Determine the price and quantity at which revenue is maximised.

(c) Derive the price elasticity of demand.

(d) Show that total revenue is a maximum and marginal revenue is zero when price elasticity of demand equals minus one.

Q2.Given the following demand and_ supply functions, find equilibrium price :

(a) Qu =18-3P, Qy=-3 + 4P,_4 Qa = 6P,_1-5

Q3.(a) Find the distance between the points (at? , 2at,) and (४४, 2aty), where a, t, and t, are constants.

(b) Find the distance between the points (1, 2) and (—2, 1) and the coordinates of the mid-point between them.

Q4.(a) The demand function for a product is dq = P? — 70p + 1225

(i) How many units will be demanded if a price of € 20 is charged ?

(ii) Determine the qq intercept and interpret its meaning. Gii) Determine the p_ intercept(s) and interpret. —b +b? — 4ac

(b) Ifp= — 2 v2 — *e show that pq = c/a.

Q5.Suppose that a firm’s output Q is related to labour input L by the production function Q=L*, Suppose further that L is given by the linear function L=4+ 3t. Find how Q changes with respect to t.

Q6.(a) Explain the concept of a Power Set.

(b) What do you understand by equivalence relation ?

(c) What is a surjective function ?

Q7.(a) Construct truth tables for : (@) not (p and q)

(ii) (not p) or (not q)

(b) Explain the concept of an axiom, a proposition and a corollary.

Q8.(a) Find the 11 term and the sum of the first 20 terms of the geometric progression

(b) What do you understand by limit of a sequence ?

Q9.What do you understand by a_ convex combination ? How is a convex function related to a convex set ?

Q11.(a) Define a series. What is the relation between a sequence and a series ?

(b) Distinguish between a linear and non-linear difference equation.