UNIT-1

Managerial Economics bridges the gap between Economic Theory & Business Practice. Explain. O Explain the meaning o! Economics & Managerial Economics. "llustrate the relationship o! Managerial Economics with other rele#ant academic disciplines. O $tate & explain the rele#ance and importance o! Economics to management. Or %iscuss the scope o! Managerial Economics %istinguish between Microeconomics & Macroeconomics. $tate the nature and the signi!icance o! Managerial Economics %iscuss in brie! the role o! Managerial Economics in business decision ma&ing. O Explain the role o! Economics principles in decision ma&ing. O 'Managerial Economics is the integration o! Economic theory with Business practice !or the purpose o! Brie!ly explain the !i#e principles that are basic to the entire gamut o! Managerial Economics. O (hat are the basic economic tools o! Managerial Economics in decision ma&ing) (hat do you understand by the Ob*ecti#es o! the Business !irm)

UNIT-2
Explain the concept o! demand in brie!. %iscuss the important determinants o! demand.

O Examine the role o! price+ income+ prices o! related goods and ad#ertising on !actors determining demand. Explain with the example the law o! demand & discuss its main characteristics. (hat are the exceptions to the law o! demand) O (hat are the assumptions o! demand) Explain. why the demand cur#e slopes downward) (hat is elasticity o! demand) ,ighlight its role in business decision ma&ing. O Explain the concept o! elasticity in brie!. O Brie!ly de!ine the concept o! elasticity & price elasticity. %e!ine & explain price elasticity o! demand. Explain "ncome elasticity o! demand with graphical presentation. O Explain the concept o! "ncome Elasticity o! demand & explain the role in business decision ma&ing. (rite notes ona. /d#ertisement elasticity b. 0ross elasticity %e!ine cross elasticity o! demand and state its !ormula. ,ow does such elasticity di!!er in case o! substitute goods and complementary goods) (hat do you understand by elasticity o! supply) O (hat is law o! supply) Explain supply schedule & supply cur#e. Explain the methods which are used in elasticity measurement. O

(hat are the methods generally used by managerial economist !or elasticity measurement in any business organi1ation) Explain the importance o! elasticity o! demand in business decision ma&ing. Explain %elphi method o! demand !orecasting) (hat are the di!!erent methods o! %emand !orecasting) Explain Trend Pro*ection method in brie!. Examine the Trend Pro*ection method & collecti#e opinion method o! demand !orecasting. %iscuss the concept o! production !unction with illustration & the importance in the theory o! production. (hat are the di!!erent !actors o! production) 2i#e their respecti#e characteristics. (hat is a production !unction) $how how a production !unction can be plotted in an iso3uant diagram) $tate the properties o! an iso3uant. %e!ine production !unction+ explain and illustrate iso3uant & isocost cur#es. (hat do you understand by cost) Or Explain the concept o! cost. ,ow many types o! cost are there in business organi1ation) Explain. 4sing the appropriate examples explain the !ollowing type o! costsa. 5ixed cost b. 6ariable cost c. Marginal cost & incremental cost d. /ccounting cost & economic cost e. "mplicit cost & explicit cost !. Opportunity cost g. ,istorical cost & sun& cost h. %irect & indirect cost i. $hort run & long run cost

(hat do you understand by cost output relationship) Explain short run & long run cost output relationship. O %e!ine cost output relationship with short run and long run cost output relationship. (hy the long run a#erage cost cur#e is called 'En#elop cur#e7) Or (hy the 8/0 cur#e is 49 shaped) ,ow will you de!ine Economies o! scale) (hat are the sources o! External & "nternal Economies o! scale) Explain with diagram+ the stages in the application o! the law o! the diminishing returns.

UNIT-3RD
(hat are the main !eatures o! Per!ect 0ompetition) ,ow does a !irm ad*ust its price policy in a per!ect competiti#e mar&et) %istinguish between monopoly & monopolistic competition. ,ow does a !irm ta&e its price & output decision under monopolistic competition) Or $tate the monopoly and monopolistic mar&et conditions and trace a line o! di!!erence between the two.

%istinguish between per!ect competition & monopoly) Explain with diagram+ the e3uilibrium o! a monopoly !irm. 0an a monopolist incur loss) (hat does meant by discriminating monopoly) (hat are the sources o! monopoly o! a !irm) %istinguish between !ranchise monopoly and natural monopoly. Or (hat is monopoly) $tate the !actors that gi#e rise to monopoly. O

(hat are the reasons !or monopoly mar&et structure !ormation) Explain di!!erent types o! monopoly. Explain the concept o! normal pro!it. Explain the pricing under monopolistic competition. O ,ow price & output decision are ta&en under short run & long run in monopolistic competition) (rite note on oligopoly mar&et & pricing under oligopoly. (hat is oligopoly) %iscuss the pricing under the oligopoly using any one o! the models. %e!ine oligopoly. (hat is the basic di!!erence oligopoly & monopolistic competition) (hat is oligopoly) %iscuss the pricing under oligopoly using either price rigidity model or using price leadership model. %i!!erentiate between collusi#e & non9collusi#e oligopoly. Explain the price rigidity in oligopoly mar&et with the help o! &in&ed demand cur#e model

%istinguish between accounting pro!it & economic pro!it.