Q1 Write a note on managerial decision-making under perfect information, risk, uncertainty.

Q2 Show that the price effect is the sum of income effect and substitution effect for the price fall in good X when X is normal, giffen and inferior good, explain with the HICKSION METHOD.

Q3. What are the limitations of opportunity cost, Analysis.

Q4. Show that as the demand curve become steap and hence inelastic a greater amount of tax is passed on to the consumer.

Q5. Explain a) Why AVC is U- Shape.
b) Why is AC U- Shape
c) Relationship between AFC/AV/AC.
d) Give a reason for the TVC curve.

Q6. Difference between Economies of Scale and Economies of Scope.

Q7. Write a note on OPEC.

Q8. What are the causes of short life of a cartel.

Q9. Explain with a situation a) Price Penetration) Price Skimming.

Q10. Explain the causes of a) Market Failure.
b) Price Regulation.