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ECO402 Current Midterm Paper Fall 2013 File shared by samra tariq File 1



on December 21, 2013 at 1:16pm
My today's ECO402 paper:
Total qs:27
Total mcqs:22 (conceptual but easy)...
Total marks:41
1. what would be condition of profit max. when a firm is working in perfect competition in:
a)marginal cost and marginal revenue
b)total cost and total revenue
(1.5+1.5=3 marks)
2. Consumer spends all his income on two goods; food and clothing then:
a)what is the shape of budget line
b)what be the change in budget line when the price of clothing increase from 10 to 20
(show graphically)
(1.5+1.5=3 marks)
3. calculate expected value (3 marks)
4. what other shapes of isoquants are possible, and why, explain graphically...(1+2+2=5 marks)
5. a table was given in which some values were to be found..(MP of variable input, total output, average output) (5 marks)
Hope it will help those who still have to attempt ECO402 paper...
Regards...
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