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Old March 30th, 2016, 10:24 AM
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Default Re: IGNOU EEC 11 Assignments

As clarified in the Program Guide for BDP, you will need to do one task for this Elective course in Economics (EEC-11). This is a Tutor Marked Assignment (TMA) and conveys 100 imprints.

It is essential that you compose answers to every one of the inquiries in your own words. The TMA is intended to empower you to answer distinctive classes of inquiries.

Accommodation: The finished assignments ought to be submitted to the Coordinator of your Study Center at the latest March 31, 2016 for the understudies admitted to July 2015 session and 30th September, 2016 for the understudies admitted to January 2016 session.

The Assignment Questions are as follows:

Section- A

Long Answer Questions. (Answer in about 500 words each) 2 x 20 = 40

1. Briefly distinguish between the cardinal utility approach and ordinal utility approach to
consumer behavior. Explain with illustration the law of eventual diminishing marginal utility?

2. (a) Why the Long-Run Average Cost is curve U-shaped and flatter in the long-run? Explain
with suitable diagrams.
(b) Given the total cost 3 7 12, evaluate the marginal cost and average
cost if 3

Section-B
Medium Answer Questions. (Answer in about 250 words each) 4 x 12 = 48

3. Compare Monopolistic Competition with perfect competition and explain which of the key
policy variables are for a monopolistic competitor?

4. Explain how Modern theory of Rent is an improvement over Marshall’s theory of rent.

5. What are the constituents of money market? Explain the steps to restore equilibrium in goods
and money market?

6. a) What is Lindahl equilibrium? Explain with the help of diagram.
b) Explain Coase’s solution for externalities.

Section- C
Short Answer Questions. (Answer in about 100 words each) 2 x 6 = 12

7. Distinguish between any four of the following:
i. Positive and Normative Economics
ii. Iso-Cost line and Iso-Product curve
iii. Revenue receipts and capital receipts
iv. Demand-pull inflation and Cost-push inflation
v. GNP AND GDP

8. Explain any four of the followings:
i. General equilibrium
ii. Giffen paradox
iii. Homogenous production function
iv. Flat rate of interest
v. Transfer incomes
vi. Terms of Trade
vii. Club goods
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