Blog: Eco402 VU Midterm Current Paper (May 2011)

Eco402

Total Question= 27

MCQS=22

Long = 5

Q23. Define the Diminshing Marginal Utility & Equi-Marginal Utility.(3)

Q24. Define Consumer Surplus and describe its benefits briefly. (3)

Q25. Describe the followings:
a) Marginal Cost and Marginal Revenues 
b) Total Cost and Total Revenues 
Q26. Discuss the different preferences toward risk with the help of examples

Q27. When do the economics of scope exits? Spout your answer with the help of Example. Hw can u measure the degree of economics of scope? Explain with the help of Formula.