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What is indifference curve? Explain the consumer's equilibrium under ordinal utility approach.
Define national income. Explain the difficulties of measuring national income in developing countries like Nepal.
List out the features of monopoly? Explain the short run and long run equilibrium of a firm under monopolistic market?
Attempt any Eight questions
[8x5=40]"Scarcity and choice are central issues of economics". Justify the statement.
Describe the major determinants of demand.
Given the Price demand schedule below.
| Price | 50 | 40 | 30 | 20 | 10 | 0 |
| Quantity Demand | 5 | 10 | 15 | 20 | 25 | 30 |
Explain the law of returns to scale.
What is marginal rate of substitution (MRS)? Write the reason to diminishing MRS.
Calculate TC, AFC, AVC, AC, and MC under the total fixed cost 100, from the following cost schedule.
| Output | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
| TVC | 0 | 10 | 18 | 24 | 32 | 50 | 80 | 124 | 180 | 260 |
Explain, the uses of quantitative instruments under the expansionary monetary policy?
Let the demand and cost functions are P = 12 - 0.4Q and C = 5 + 4Q + 0.6Q² respectively. Then find the equilibrium price, quantity, total revenue, total cost and total profit.
Find the GDPMP, GNPM, and NNP from the following information
| Items | (Rs in crores) |
| Gross fixed domestic capital formation | 200 |
| Net exports | (-14) |
| Net indirect taxes | 94 |
| Net changes in stock | 26 |
| Private final consumption expenditure | 500 |
| Government's final consumption expenditure | 150 |
| Net factor income from abroad | 50 |
| Capital consumption allowance | 80 |