Tribhuvan University
Bachelor of Business Studies
Year 1 · TU Board 2079
Course Title: Business Statistics (MGT207)
Time: 3 Hrs
Group A
Brief Answer Questions: Attempt ALL questions.(10 × 2 = 20)
- 1.2
What are the characteristics of business economics?
- 2.2
Consider the supply function Qs = a + bP and interpret the components.
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- 3.2
Write any four assumptions of cardinal approach.
- 4.2
Why is LAC - U shaped?
- 5.2
Prepare a list of characteristics of oligopoly.
- 6.2
State the relationship between TR and price elasticity of demand.
Answer comingAlso asked in 2080, 2078
- 7.2
Write any four examples of explicit costs.
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- 8.2
Define value of marginal productivity of labour.
- 9.2
What are the causes for the operation of the law of increasing returns?
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- 10.2
How is degree of economies of scope computed?
Group B
Descriptive Answer Questions: Attempt any FIVE questions.(5 × 10 = 50)
- 11.10
Describe the nature of microeconomics.
- 12.10
Explain the factors that cause shift in demand curve.
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- 13.10
How is the price determined under "joint profit maximization cartel". Explain.
- 14.10
What is economic rent? How is it determined?
- 15.10
Let, revenue function, TR = 100Q - Q^2, cost function, TC = 50 + 6Q^2. a) Compute TR, TC and profit (π) at the output range of 0 to 10 units. b) Graph TR, TC and π and explain profit maximization goal of the firm. [3+(3+4)]
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- 16.10
Consider the following cost schedule: Q:012345678TFC:100100100100100100100100100TVC:0101824325080124180TC:100110118124132150180224280 a) Graph TFC, TVC and TC and explain their behavior. b) Is the trend of TC or TVC is influenced by the law of variable proportions? Explain.
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Group C
Analytical Answer Questions: Attempt any TWO questions.(2 × 15 = 30)
- 17.15
Explain the price effect for normal substitutes. How can it be decomposed into income and substitution effects? Explain. [7+8]
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- 18.15
Describe the significance of production function in business decision - making. How do firms achieve optimal employment of two variable inputs? Explain. [5+10]
- 19.15
Consider the following supply schedule: Points:ABCDEPrice (Rs):010203040Supply (Units):100200300400500 a. Compute the price elasticity of supply at movement from B to D and D to B by proportion method. [4] b. Compute the price elasticity of supply at midway between B and D and D and B by arc method. Why is arc method considered as more appropriate method than proportion method? [4+2] c. How do firms use price elasticity of demand in business decision making? Explain with suitable examples. [5]
Answer comingAlso asked in 2080
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