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Questions:

1. Explain the scope of business economics.
2. What is meant by the working of Price-Mechanism?
3. Describe the types of Income Elasticity of demand.
4. Explain the relation between TR, AR, and MR.
5. Give the main characteristics of Iso-Product curve.
6. What is Marginal Cost?
7. Give the meaning of monopoly and its features.
8. Mention any five assumptions of perfect competition.
9. What is low-cost price leadership model?
10. Give the difference between Rent and Quasi Rent.
11. What is Iso-product curve? Explain producer's equilibrium under it.
12. What is Price Process? Write fundamental features of process or price mechanism.
13. Explain the degrees of Price Elasticity of Demand and discuss the main methods adopted to measure the elasticity of demand.
14. Discuss the law of diminishing returns and why it applies.
15. What is Perfect competition? How are prices determined under perfect competition?
16. How are price and output determined under price discrimination?
17. Critically examine the marginal productivity theory of distribution.
18. Explain Ricardian theory of Rent by giving its assumptions and defects.