The concept of quasi-rent is an extension of the Ricardian concept of rent to other factors of production. Elucidate.
See Answer →The concept of quasi-rent is an extension of the Ricardian concept of rent to other factors of production. Elucidate.
See Answer →Why does the marginal rate of technical substitution (MRTS) decline as we move rightward and downward along a convex-shaped isoquant?
See Answer →With the help of a diagram, illustrate the deadweight loss associated with a negative externality. How does a Pigouvian tax work to solve the welfare loss from such a deadweight loss?
See Answer →Explain the concept of Technical efficiency. Technical efficiency will not necessarily ensure overall Pareto optimum product mix. Why?
See Answer →Using appropriate diagrams, compare and contrast the shapes of demand and supply curves when there are multiple equilibriums with the shapes of demand and supply curves when there is a unique equilibrium with respect to a commodity.
See Answer →Illustrate with the help of a diagram, higher the price elasticity of demand, larger will be the per unit tax burden borne by the producers
See Answer →A firm operating in a competitive market faces a marginal cost function given by MC(Q) = 2Q + 100 where MCis the marginal cost, Q represents level of output produced and P is the price. If the unit price of output is Rs 60, what level of output will maximize profits? What will be the maximum profit? At what minimum price will the firm produce a positive output?
See Answer →Using appropriate diagrams compare and contrast long-run equilibrium conditions faced by a firm under perfect and monopolistic competition market structures.
See Answer →(a) Consider the figure below where capital (K) and labour (L) are the factors of production in producing output. IA,IB, IC, ID represent isoquants for output levels 800, 900, 1000 and 1100 units, respectively.
(i) Identify the returns to scale represented by the above set of isoquants. What are the factors that
lead to such returns to scale?
(ii) Expansion of output by a firm comes with increasing average unit cost of production. Identify the
phenomenon in terms of scale economies. Also discuss the reasons behind such a phenomenon.
(b) What are the reasons behind internal economies and internal diseconomies of scale faced by a firm?
What are the causes of industrial backwardness in India? Describe the role of industry in development.
See Answer →Briefly describe theories of education development. What are various issues and challenges of education development?
See Answer →What are causes of development disparities and what measures to be taken to overcome development disparities?
See Answer →What is measurement of inequality? Describe causes and effects of inequality.
See Answer →What is human development index? Describe the factors determining human development.
See Answer →How has globlisation led to “Feminization of labour” especially in global south? Explain.
See Answer →Explain the ‘Sectorization’ of women’s employments. Give suitable examples in support of your answer.
See Answer →Describe the inter-linkages between gender, migration and labour in both national and international contexts
See Answer →Explain theories related to wage exploitation in detail.
See Answer →Define the care economy. Discuss the role of the care economy in the national economy in the era of a globalized economy in developing nations.
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