Microeconomics UE Past Papers Questions.


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(1445) Question Category: Short answers

What do you understand by the least cost combination criterion?

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(1446) Question Category: Short answers

What is economic theory? what do you need in principle to validate or falsify an economic theory?

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(1447) Question Category: Short answers

Distinguish betweeen arc and point elasticity of demand

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(1448) Question Category: Mathematical Calculation

Use the information in the table below to compute elasticity coefficients between points on the demand schedule and explain clearly what these coefficients mean?.

P 60 50 40 30 20
Q 100 200 300 400 500

 

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(1771) Question Category: Short answers

Write short notes on the following concepts: Use graphical illustrations where necessary.

  1. Substitution and income effects
  2. Stages/Regions of production
  3. Production Possibility Frontier
  4. Marginal Revenue Product
  5. Backward bending Labour Supply Curve

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