BECC-132 · December 2023 · English
IGNOU BECC-132 December 2023 Previous Year Question Paper
PRINCIPLES OF MICRO ECONOMICS—II
Structured previous year question paper for BECC-132, December 2023 session.
Max marks: 100 · Questions: 11 · Sections: 3
Verified: 5 Aug 2026
B. A. (GENERAL) (BAG)
Term-End Examination
December, 2023
BECC–132 : PRINCIPLES OF
MICROECONOMICS–II
Time : 3 Hours Maximum Marks : 100
Note : Answer questions from each Section as per
instructions.
Section—A
Note : Answer any two questions from this Section.
2 × 20 = 40
Q1.(a) With the help of a diagram, compare the equilibrium level of output and price under perfect competition and monopoly. 10 [ 2 ] BECC–132
(b) Let the cost of production and demand function of a monopoly firm is given as : C = 100 + Q2 P = 52 – Q Find the profit maximizing level of output and price.
Q2.(a) Distinguish and explain demand for labour in perfectly competitive and imperfectly competitive markets with the help of an example and diagram. 10
(b) What is minimum wages ? How do labour unions influence the wage rate and employment level ?
Q3.(a) Explain the concept of quasi -rent with the help of a diagram. Why does q uasi-rent disappear in long-run ? 10
(b) Discuss the modern theory of rent. Explain how differences in rent depend on the elasticity of supply curve of land.
Q4.(a) What do you mean by externalities ? How do externalities affect production and consumption in the market ? 10
(b) How is Heckscher-Ohlin’s theory of International trade an improvement over Ricardian theory of international trade ? Explain. 10 [ 3 ]
Section—B
Note : Attempt any four questions from this
Section. 4 × 12 = 48
Q5.“The portion of MC curve which lies above AVC is the firm’s supply curve in short-run.” Explain and show the shut down point with the help of a diagram.
Q6.Define excess capacity. Show diagrammatically why excess capacity exist s in a m onopolistic competitive market.
Q7.Explain the equilibrium of a firm in oligopolistic market facing kinked demand curve. Why are the prices sticky in this market ?
Q8.Differentiate between accounting profit and economic profit. Is profit a reward for innovation or bearing uncertainty ?
Q9.How is a public monopoly different to a private monopoly ? Describe the pricing policies of a public monopolist firm.
Q10.Discuss the role of WTO in Indian economy. 12 [ 4 ]
Section—C
Q11.Write short notes on any three of the following : 3×4=12
(i) Public Goods
(ii) Non-cooperative Oligopoly
(iii) Interdependent demand
(iv) Average cost pricing in public monopoly
(v) Selling costs [ 5 ] BECC–132 2023 –132 2 × 20 = 40 [ 6 ] BECC–132 C = 100 + Q2 P = 52 – Q [ 7 ] BECC–132 4 × 12 = 48 [ 8 ] BECC–132 (WTO) 3 × 4 = 12
(ii)
(iii)
(iv)