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ECO402 VU Midterm Papers Spring May 2012

28 mcqs
2*3 questions
2*5 questions
What is risk averse and risk lover?Why people are like to be risk averse and risk lover?
One question about expected values.values were given.
If firms long run marginal cost of production is increase.What it will effect on shape of average cost?
If marginal and total cost increase.Average cost will increase or decrease.Give reason.

 

ECO402 VU Midterm Current Papers Spring 2012 of Virtual University of Pakistan [May 2012]

28 mqcs 50% 4rm past paper

2 3 marks question
2 5 marks question
Q)DEFINE RISK NEUTRAL AND EXPLAIN IT WITH GRAPH? (3 MARKS)

Q)The owner of a small manufacturing firm does his own accounting work. How would you measure
the opportunity cost of his work? 3 marks

Q) A.What is the practical usefulness of isoquants for the producers?
B.How does a long-run production function differ from a short-run production function?
(Marks: 2.5+2.5)

Q). can an isoquant be other than convex to origin. if yes then which shapes of isoquant are possible and why?  define with diagrams if there any. marks=5

 

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