BECC-101: Introductory Microeconomics
Assignment Code: BECC-101/2024-25
Total Marks: 100
Coverage: All Questions Answered
🔗 Click on the questions below to read their full answers:
- How is Monopoly different from that under Perfect Competition? Explain the long run equilibrium under Monopoly.
- Give reasons for diminishing returns to scale accruing to a firm in the long run.
- In a duopolist market two firms… in the Cournot’s model: Find the action-reaction functions, profits, and equilibrium price/output.
- The Paul Sweezy’s kinked demand curve model shows price rigidity under Oligopoly. Explain how.
- What is economic rent? Discuss the Ricardian theory of economic rent.
- The demand for factors is called derived demand. Explain.
- Why do you find variations in the wage-rates across different professions? Why is a professor paid higher than a school teacher?
- What are externalities? Explain with diagram why is the optimal output not reached under negative externality.
- What do you understand by the term “Excess Capacity”?
- What is an Income consumption curve? Draw the Income consumption curve for an inferior good.
- What are the policy instruments available for government intervention to regulate inefficient market situations?
- What is the concept of efficiency in economics? How is the efficient allocation of resources done among firms?
- Elucidate the features existing under Oligopolistic market structure
✅ All answers are written in simple, student-friendly language and suitable for IGNOU BECC-101 2024-25 assignments.
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