Introduction
This post compiles all the solved questions for the BCOG-171: Principles of Microeconomics assignment. Each answer is detailed and formatted according to IGNOU standards. Click on the links below to view individual answers.
Section A (10 Marks Each)
- Explain the concept of a Production Possibility Curve…
- Explain the law of demand with the help of a demand schedule and a demand curve…
- Distinguish between Perfectly Elastic, Perfectly Inelastic…
- What do you mean by marginal rate of substitution…
- How is the Long run Average cost curve derived…
Section B (6 Marks Each)
- What are the characteristics that have to be considered…
- Why should equilibrium between marginal cost and marginal revenue…
- Distinguish between interest and profit…
- What are the various sources of profits…
- What is full-cost pricing principle…
Section C (5 Marks Each)
- Write a short note on the claimed superiority of indifference curves…
- How the various tools of government intervention are applied…
- What is backward bending supply curve? Explain with an example.
- Define functional distribution and distinguish it from personal distribution.
Conclusion
Use these answers to understand concepts, prepare your assignments, and strengthen your microeconomics foundation. For more solved assignments, visit IGNOU Corner.