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JAIPUR NATIONAL UNIVERSITY, JAIPUR
School of Distance Education & Learning
Internal Assignment No. 1
Master of Business Administration / DM
Paper Code: MBA– 208
Paper Title: Managerial Economics
Q 1. Answer all the questions:
(i) Distinguish between perfectly elastic demand and perfectly inelastic demand.
Ans: Perfectly Inelastic Demand: When demand is perfectly inelastic, quantity demanded for a good does not change in
(ii) Define marginal revenue.
Ans Marginal revenue definition : Marginal revenue is the additional income generated from the sale of one more unit of a good or
(iii) What is opportunity cost?
Ans : Opportunity cost: Opportunity cost refers to what you have to give up to buy what you want in terms of other
(iv) What is product differentiation?
Ans Definition: Product differentiation is a process used by businesses to distinguish a product or service from other similar ones available in
(v) What do you understand by disposable income?
Ans: Definition Disposable income: Disposable income, sometimes called disposable personal income (DPI), is the total
Q. 2. What is elasticity of demand? Explain different types & degrees of elasticity of demand.
Ans Meaning of Elasticity of Demand: Demand extends or contracts respectively with a fall or rise in price. This quality of demand by virtue of which it changes (increases or decreases) when price changes (decreases or increases)
Q. 4. Define national income. Discuss the methods measuring National Income with suitable example.
Ans: Definition: According to Marshall: “The labour and capital of a country acting on its natural resources produce annually a certain net aggregate of commodities, material and immaterial including services of all kinds. This is the true net
Dear students, get latest JNU MBA Solved assignments by professionals.
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JAIPUR NATIONAL UNIVERSITY, JAIPUR
School of Distance Education & Learning
Internal Assignment No. 2
Master of Business Administration / DM
Paper Code: MBA– 208
Paper Title: Managerial Economics
Q. 1. Answer all the questions:
(i) “Two indifference curves cannot touch or intersect each other”. Explain why?
Answer: The indifference curves cannot intersect each other. The reason is explained in this paragraph.
It is because at the point of tangency, the
(ii) What is elasticity of substitution?
Answer: Definition: Responsiveness of the buyers of a good or service to the price changes in its substitutes. It is measured as the ratio of
(iii) Explain any one good effect of Monopoly.
Answer: Monopolies are generally considered to have several disadvantages (higher price, fewer incentives to be efficient e.t.c). However,
(iv) What is homogeneity of product?
Answer : Definition of homogeneity of product: A homogeneous product is one that cannot be distinguished from competing products from
(v) Name the stages of business cycle.
Answer : Definition Business cycle: The term “business cycle” (or economic cycle or boom-bust cycle) refers to economy-wide fluctuations in production, trade, and general economic activity. From a conceptual perspective, the business cycle is
Q. 2. Explain the law of diminishing marginal utility. What is its importance?
Definition: The Law Of Diminishing Marginal Utility states that, all else equal, as consumption increases, the marginal utility derived from each additional unit declines. Marginal utility is derived as the change in utility as an additional unit
Q. 3. Explain different determinants of demand.
Answer: Demand drives economic growth. Businesses want to increase demand so they can improve profits. Governments and
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