marketing strategies on adha kata hua apple

MEC-001MASTER OF ARTS (Economics) Term-End Examination December, 2009 MEC-001 : MICRO ECONOMIC ANALYSIS Maximum Marks : 100 Time : 3 hours Note : Attempt questions from each section as directed. SECTION - A Answer any two questions from this section : 2x20=40 What do you mean by a social welfare function ? If you assume that such a function exists, what properties of social optima would be considered by you ? Discuss such properties. How the efficiency wage theory can explain the presence of unemployment and wage determination ? 3. Suppose that there is a pure exchange economy with 2 consumers and 2 goods. The endowments are w 1 = (2, 4), w 2 = (4, 3). Consumers are otherwise identical and they have utility function 11 u(x,y) MEC-001 =x3y3. 1 P.T.O. Solve for the equilibrium and check if the competitive equilibrium is Pareto Optimal. (c) How would you define a competitive Equilibrium for this economy. 4.Construct an Edgeworth Box for this economy. Find all Pareto optimal allocations and graph them in the Edgeworth Box. A monopolist has a cost function of c(y) =y so that its marginal cost is constant at Re. whet price should they set ? What output it will produce in such a situation ? MEC-001 2 . It faces the following demand curve : for P > 20 L0 D (P) = L 100 for P 20 P Find the profit maximising output. Give a definition of a Pareto Optimal Allocation in this economy. 1 per unit. If the government could set a price ceiling on this monopolist to force it to act as a competitor. His income stream is given as y1 =1000 and y2 = 648. cV O 6. Find his expected wealth with and without insurance.SECTION . find the values for consumption in two periods which maximises his utility. In case the surgery is done. He earns no other income. He is thinking of going for a health insurance presently which costs Rs. His present wealth is Rs. 40.O. 4x12=48 A consumer's utility function from consumption in two-period horizon is u = C1C20 h. MEC . Show how much he would be willing to pay for buying the insurance. it will cost Rs.5 probability that he will need a surgery in connection with a health problem.000.000.001 3 P. If the market rate of interest is 8% per annum.B Answer any four questions from this section : cV t) 5. 10. There is 0. 20.000.5 where x = wealth. John's utility function is given as u ( x) =.T. . Two players first simultaneously declare Yes or No. 10. 100 60. What is the optimal wage-labour incentive scheme s(x) 1 for this worker ? MEC-001 4 . Suppose that consumer's preferences are given by the utility function 1 u( x1 . Let the optimal incentive plan be given as s (x)=wx+k where s(x) = incentive scheme x= output. then they play the following game : 2nd Player 1st Player Invest Consume Invest 100. If both players declare Yes. x2 ) =( xf +x12" ) P Find its indirect utility function and expenditure function. then each player gets 80. If any of the players declares No.7. w= wage and k = constant A worker can produce x units of output at a cost x2 of C(x) = — 2 and he can achieve a utility level of II =0 working elsewhere. 0 Consume 0. 60 60. 60 Find all the subgame-perfect equilibria of the entire game involving pure strategies only. What is the theory of Second Best ? Prove the theorem with the help of a diagram. T. -o0 - MEC-001 5 P. Second welfare theorem. Basing point price and limit price. (c) Third degree price discrimination.SECTION . 12. (c) Pooling and separating equilibria. . Differentiate between (any two) : Homogenous and homothetic production functions. Write short notes on any two of the following : Production possibility frontier.O.C Answer all the questions from this section : 2x6=12 11. w2 = (4. TrFr iaf -14-N 3TO otI cit-9-1T t c fad I 7171 = ( 2.r p i i U 74 -1T-4- faITI-Tur r t? rcbki Nct)R cemseu 3.1 .firr4 I qqaff. 3) ch-111 (endowments) t 373-NT 3TP:1 2TT7WIAt ath 31 '-ft. . 11? t:ft ?TM-Era-rat Tr-A-71- fart tl. 2009 rlaui 71:14*. 71.: 17-c? f 114 PICTql1V1H7T4 drip tgus-3T tg c-f f 5R-t.1t1 Ach s 3TWFUT (social optima) -4.T.-001 : 134-7 3T+41TW TirRT : 3 bl ue 3TAIWffq 3W : 100 *2.4) 4101 art : t t 2x20=40 ? aTrcr 3-171t 5. 4). 14)1 fadr-draff -97 fd7 fcb q i AN .O.1M-001 ( 1111-4-IT fq7:11tIT. trcii W-44 I zEri. 31itt mfr fi1 1111-.y) =x3y3. MEC-001 7 P.1 tq c-i I +MI 90-ft : 1 1 u(x. TIT 4-101 t fATR4 t I -W*1 hril t I L for P > 20 -0 D (P) = 100 for P 5 20 P alftr*71:1 cnc4 AI qu ill Tr- e lf wchR -if4-*-Rrocr -c5-4 (.-44 I Trill at 64 T.1:1T (11 4 11 7rff 1T.4 1 cr d44 t? c(y) = y (11 4 1c1 711.4 14 ceia6R rntl f91Tifti f9-41-F-Tu d0-11q1 '01- MEC-001 7-0-zr di 'I TF-4 31-firwaTr t t 74 rch q RT7 TR wl-rrff -qfr-6-41.4 f-*---d-1-r .tfri.d 2f cil of\LI TR 3i 2f-arqw aff—*7 ct) I -9-fdTcreff 3t LiroTifsrff wN? fl -q (11 ft 4.? ft I 8 fP-Tru 4. c 7F-791 -1-qc11 Lik) 31 7TIN--*RrolT 4.4. (a) TT 3i a 2.174 I ti 3*-&ffR-Tf4titt3T-if—dT374z-i4 ronitr 31-r-4-zt tr.i 0:111. aTfirw-dg c 4x12=48 3chR iq trr VTT t : Aer x =1:1-rcrru I 1TIPT17 T.000 T. 40.11.11lei rcAtitt -tzu-tzr 41r4 t f4F4 . Tg (5-8 -kI 14 -3791 ir t I q rq . t of 37.ri + ici T.1c1 WWI TT k. .4 y1= 1000 2. 10. y2 =648 14 3R-- -5ifota.47w-di. 01.000 t I a1+-1i Tri-0 a 21T 01 4-If zw4' 31-4N-Tu tf—A-4 W{T4 911T-dti cnt 3S1c1 (willing) i)+11? MEC-001 9 P.000 t I •q•• 3T-21 f*-Tft 31—*-R 3T171 ---cdr 1 0.5 ITPITIT t f17-22:11:1771T -k7ilzAT zi4 1:0# 4)(14 i141 I of Tr-4# wut *kii1( 20.11.1R ci1 .O. Tiftttt 1K z-critl-TT 7 8 a4441c11 IId WIF-A"4 I 3i-141{1mi 1:Fi u (x) 3z ATE A dLig)fildir 3-I ch1311-zi 3E47 (income stream) Lbo-rt u= C1C2° 6.T. 0 60.1 TriTri -wT- . fig ri i TIT2T TIM t1-0 4 $' 31 2TT t I -f . -q).511=11 (Theorem) fiTZ "WltA I 10 t-111CII* .1# for1151 -te •q-Yff-di t •th 81-11-14 80 51-RT t I q rq rGois`l- fi5o141- t: VRT `t5 x1151 1 '11 41 TrTffT R50151 111.1 -N71Z rclq• HI-IF TTifFr 100.4rdq)111d1 71Id 0fA T1 1# S.7. 100 0.60 60. tftzi M q MEC-001 (=NI t? . 60 i F-1 4-11C1fig t1 3 LN1PR11 3Trwrra. x2 ) =(x 113 +4 )P z:rk 3T5r-RT d Li glrIcif 1 -)(1-1 QTr ogq Lho-r ld -1-r-q-71 9. 114141 I glt1 3791-rr t u(xi . .4I t-cR 511H cht t-I chdlt I 11 u=0 ch14-PIR (Worker)* qzrr fri3T-ft7m4 Trqt MEC-001 x ? P.10.T. 3-Ta—d-d 4-F -4-t-w 3371)77 (Optimal incentive plan) s(x)=wx+k kvfT t s(x)=")7T .21)79T (Incentive scheme) x= do-Ifq-r (Output) w = TR (Wage) k= -Mi ch (Constant) x C(x) = — 2 id TR 604141 11144 dc4irqd ch .! 3'.O. Pii-ircifig o -4 A fw dc-k i 2x6=12 : rtiT #N IF '1)e- f-0-74 -56-F-RTT (Production possibility frontier) I fg6171- -51-474 (Theorem) (c) IthRT I (degree) 1. (c) 32.c:f SIT 1 .-1. u s -'T 4s A 74 -5R-q d-cit 11.-71' -wdp-z1 : 'mill 74 -T*2M do-H 1 th-F9 (Homogenous and homothetic production functions). r-ti-ircifig d -4 A -ft.1-U (Basing point price and limit price). f44-q 12.11-a. 3TmiTio f d . -o0o- MEC-001 12 (Pooling and .1-qz577 separating equilibrium). 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