MCO-021 · June 2023 · English
IGNOU MCO-021 June 2023 Previous Year Question Paper
MANAGERIAL ECONOMICS
Structured previous year question paper for MCO-021, June 2023 session.
Max marks: 100 · Questions: 8
Verified: 8 Sept 2026
MASTER OF COMMERCE (M. COM.)
Term-End Examination
June, 2023
MCO-021 : MANAGERIAL ECONOMICS
Time : 3 Hours Maximum Marks : 100
Note :
(i) Attempt any five questions.
(ii) All questions carry equal marks.
Q1.(a) Define Managerial Economics. Discuss its scope. 2+8
(b) “Managerial Economics serves as a link between t raditional economics and the decision-making sciences for business decision-making.” Discuss.
Q2.(a) Explain the “Law of Demand” with the help of „Demand schedule‟ and „Demand curve’. 10
(b) “Income effect and substitution effect are particularly important in explaining the negative slope of demand function.” Discuss.
Q3.Explain the concept of price elasticity of demand. Discuss the determinants of price elasticity of demand.
Q4.Differentiate between demand estimation and demand forecasting. Discus s the important sources of data used in forecasting the demand.
Q5.Explain production function. Discuss return s to scale with the help of production function.
Q6.“The U-shaped long run average cost curve is explainable in terms of economies of scale and diseconomies of scale.” Discuss with the help of graph.
Q7.Describe price determination and discu ss its types with the help of an example. 5+15 [ 3 ]
Q8.Write short notes on any four of the following : 4×5=20
(a) Discounting principle
(b) Marginal rate of technical substitution
(c) Price leadership
(d) Implicit cost
(e) Short-run cost function