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ECO404 VU Current Midterm Fall 2012 Paper 9 December 2012

ECO404
22 MCQs
implicit cost is opportunity cost?? explain with Example….3marks

homogenous productionn function ….. 3 marks

interpret following Regression Equation…3 marks
yt = 9.5 + 3.65Xt
yt= sales quanitity
Xt = advertising cost

Find Production cost of the function…5
P = 430 + 50Q
TC = 3000 + 45Q + 0.03Q2(square on Q)

another question from production function dnt remembr exactly asking aby he marginal change in
Q= f(L,K)….5marks



Another Paper:

22 mcqs and 3 short (3mks) and 2 long (5 mks) questions
most of the mcqs ver easy n strait from hanout and mostly main main ju bandy ko khud hi pata chal jata hai.
Q1:define economies of scope ? why it is imp for firms explain 3 mks
Q2:although moving avg is a veryuseful technique of forcasting but it has some serious short comings discuss/ 3 mks
Q3: suppose the price of a product increase by 50 % as a result its quantity demand falls by 30 % calcualte the price elasticity of demand.
Q4: linear programing method is based on certain assumptions discuss them 5 mks
Q5: barometric method is very usful but it has some wekness discuss
.

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