IGNOU MCO-021 June 2025 Previous Year Question Paper

Q1.Explain short -run cost function with the help of table and graph. Also explain the relationship between marginal cost and average cost.

Q2.Explain the characteristics of mon opolistic competition. How does a firm under [ 2 ] MCO–021 monopolistic competition determine price and output in short-run ? Explain.

Q3.What is Price Discrimination ? Explain first, second and third degree price discrimination with the help of an suitable example.

Q4.Explain long-run cost function with the help of example and graph.

Q5.Explain the production function with two variable inputs and graph.

Q6.(a) Explain the determinants of price elasticity of demand. How is information about price elasticity be useful in decision-making ? 7+3

(b) Discuss income elasticity of demand and narrate how is it important in managerial decision-making. 7+3 [ 3 ]

Q7.Discuss the fundamental nature of Managerial Economics. Also discuss briefly the scope of Managerial Economics.

Q8.Write short notes on any two of the following :

(a) Optimisation concept

(b) Characteristics of perfect competition

(c) Two-part tariffs

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