What is Empirical Production Function Explain the optimum combination of inputs with diagrams.

Section – A (Marks – 25)
Attempt all questions
  1. How is Price Elasticity measured?
  2. State and explain the ‘Law of variable proportions’
  3. Define ‘Production Function’. Explain with diagram, the three stages of the Law of Variable Proportions.
  4. Define production function. State and explain the ‘Law of Diminishing Marginal Returns’
  5. What is ‘Cost benefit analyses? Justify its use in the implementation of developmental projects.
Section – B (Marks – 25)
Attempt all questions –
  1. What is ‘Segmentation’? Explain Product segmentation and Market segmentation concept.
  2. What is ‘Wholesaling’? Discuss various benefits of Wholesaling.
  3. Explain different Features of Perfect Competition.
  4. Cost Volume Profit Analysis.
  5. What is Capital Rationing?
Section – C (Marks – 50)
Attempt any five questions –
1- Explain in detail the nature and scope of Managerial Economics. How Micro Economics differs from Managerial Economics?
  1. What is Empirical Production Function? Explain the optimum combination of inputs with diagrams.
  2. What is Cost of Capital? Explain its structure and role in inter- national competitiveness.
  3. What is Elasticity of Demand? Explain Price, Cross and Income Elasticity of Demand used in managerial decision making process.
  4. What do you mean by Monopoly? How price and output is determined in short and long run in Monopoly Competition?
  5. Describe the Oligopoly Model in detail.
  6. Explain management of foreign exchange with special reference to India

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