# BECC 131 Solved Assignment 2021-22

BECC 131 Solved Assignment 2021-22

PRINCIPLES OF MICROECONOMICS - I

BECC 131 Solved Assignment 2021-22 : All assignments are in PDF format which would be send on email/WhatsApp (8130208920) just after payment.

Course Code: BECC 131

Assignment Code: Asst /TMA /2021

Total Marks: 100

Assignment One

Answer the following Descriptive Category questions in about 500 words each. Each question carries 20 marks

2 × 20 = 40

1. (a) Explain the concept of short-run and the long-run as associated with a firm.

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(b) Illustrate the relation between Marginal Cost (MC), Average Total Cost (ATC), Average Variable Cost (AVC) and Average Fixed Cost (AFC) curves. Given a total cost function,

TC(Q) = 50Q2 + 10Q + 75

where Q represents quantity of output produced. Find the expression for Variable Cost (VC), Fixed Cost (FC), AVC, AFC and ATC.

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(c) Describe with the help of a diagram interaction between the Short-run Average Total Cost curves and the Long-run Average Total Cost curve given that the firm has five plant sizes to consider viz. I, II, III, IV and V (in ascending order of their size), wherein plant size III turn out to be optimal plant size in the long run.

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2. Illustrate with the help of a diagram, lower the price elasticity of demand, lower will be the per unit tax burden borne by the producers.

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(a) In the Demand-Supply analysis, what is meant by a Marshallian cross? Illustrate

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(b) The demand and supply functions of a good are given by QD = 110 − 5P; QS = 6P where P, QD and QS denote price, quantity demanded and quantity supplied, respectively. Find the inverse demand and supply functions and the market equilibrium price and quantity.

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Assignment Two

Answer the following Middle Category questions in about 250 words each. Each question carries 10 marks.

3 × 10 = 30

3. What is meant by a firm’s expansion path? Illustrate and distinguish between the Expansion path in case of a non-linear production function and a linear homogeneous production function.

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4. (a) Cardinal Utility analysis is not free from criticism. Do you agree? Elaborate.

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(b) Consider a consumer who consumes two goods X and Y, priced at PX and PY, respectively. Suppose price of good X falls to PX’. Decompose price effect of this fall in price into substitution and income effect using Hicksian approach.

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5. A rent ceiling prohibits charging rent that exceeds the ceiling amount. Suppose government decides to put a rent ceiling.

(a) With the help of a diagram show the effect of a rent ceiling on the supply and demand of a rented house if the ceiling is set below the market equilibrium rent.

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(b) What will be the resultant effects on supply and demand of a rented house if the ceiling is set above the market equilibrium rent?

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Assignment Three

Answer the following Short Category questions in about 100 words each. Each question carries 6 marks.

5 × 6 = 30

6. Given that the two factors of production are used in fixed proportion in the production process, what will be the shape of the corresponding isoquants? Illustrate. Also, is it possible to increase the output by increasing only one factor keeping constant the other factor of production? Give reason for your answer.

7. Differentiate between Static Economics and Dynamic Economics.

8. What causes diminishing returns to a variable factor in the production process?

9. Law of Variable Proportion is not a long-run concept. Do you agree? Elaborate.

10. Differentiate between

(i) External Economies and External Diseconomies

(ii) Explicit Cost and Implicit Cost

BECC 131 Solved Assignment 2021-22 : All assignments are in PDF format which would be send on email/WhatsApp (8130208920) just after payment.

BECC 131 Solved Assignment 2021-22: FREE IGNOU Assignment You can Get All students of university who needs to submit assignments should download old assignments of the respective course of 2021 available above and submit at the concerned study center. The last dates will be 30th April and 30th October of every year until their registration is valid. New assignments will not be available any more for students as course was revised.

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Those students who had successfully submitted their Assignments to their allocated study centres can now check their Assignment Status. Along with assignment status, they can also checkout their assignment marks & result. All this is available in an online mode. After submitting the assignment, you can check you IGNOU Assignment Status only after 3-4 weeks. It might take 40 days to declare.

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BECC 131 Solved Assignment 2021-22 Once the TEE assignments are submitted to the Centres, it's send to the evaluation department. After which the evaluation of IGNOU Assignment Solutions takes place.

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