UGC NET ECONOMICS · 2023 · UNIT 1
Micro Economics PYQs
व्यष्टि अर्थशास्त्र के प्रश्न
June2023 · 20June2023 · ShiftI
जून2023 · 20जून2023 · पालीI
Market structure and pricing
बाजार संरचना और मूल्य निर्धारण
Question 9 / प्रश्न 9
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Which one of the following is not a characteristic of market structure?
Market structure की narrow textbook dimensions में कौन अलग है?
(a) Buyers concentration।
(b) Sellers concentration।
(c) Entry conditions।
(d) Vertical integration।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: narrow classification में
Explanation: Vertical integration is outside the narrow list, but broader industrial-organisation definitions include it.
व्याख्या: Concentration और entry barriers core structure dimensions हैं। Vertical integration firm organisation का feature है, इसलिए intended(d); broader industrial-organisation analysis में integration भी market structure को प्रभावित करती है, अतः absolute exclusion नहीं।
Question 74 / प्रश्न 74
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Which of the following holds for Bertrand's Duopoly model. A. The reaction curves are derived from isoprofit maps which are convex to the axes. B. The point of intersection of the two reaction curves reflects a stable equilibrium. C. The reaction curves are derived from isoprofit maps which are concave to the axes. D. The point of intersection of the two reaction curves reflects an unstable equilibrium. E. Firm's behavioral pattern is such that they learn from past experience.
Bertrand: A convex-to-axes isoprofits; B reaction intersection stable; C concaveisoprofits; D unstable; E learning from past।
(a) A और B केवल
(b) C और D केवल
(c) A, D और E केवल
(d) B, C और E केवल
Answer & Explanation / उत्तर और व्याख्या
Explanation: The intended answer assumes a particular differentiated-price diagram; Nash equilibrium alone does not guarantee stability.
व्याख्या: Differentiated linear price competition के usual diagram में A/B intended हैं। Homogeneous-good Bertrand में under cutting best responses discontinuous हो सकते हैं; stability not automatic Nash property, specific adjustment rule चाहिए। इसलिए बिना product/dynamics assumptions universal answer नहीं।
Question 79 / प्रश्न 79
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Give below are two statements: Statement I: Under first degree price discrimination, monopolist sells different units of output for different prices and these prices may differ from person to person. Statement II: Under third degree price discrimination, monolist sells different units of output for different prices, but every individual who buys the same amount of the good pays the same price In light of the above statements,
I first degree में person/unit-specific prices; II third degree में same quantity खरीदनेवाले सभी same price।
(a) दोनों सही।
(b) दोनों गलत।
(c) I सही, II गलत।
(d) I गलत, II सही।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (c) I सही, II गलत।
Explanation: Statement II describes a common quantity schedule, not group-based third-degree discrimination.
व्याख्या: first degree प्रत्येक unit की WTP capture करता है। Same quantity/self selection schedule second degree की property है; third degree groups को अलग prices देता है।
Consumer behaviour
उपभोक्ता व्यवहार
Question 20 / प्रश्न 20
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Which of the following is/are correct about Walrasian demand function? A. The Walrasian demand function X (P, W) is homogenous of degree zero if X (αP, αW) = X (P, W) for any P, W and α > 0. B. The Walrasian demand function X (P, W) is homogenous of degree on if X (αP, αW) = αX (P, W) for any P, W and α > 0. C. The Walrasian demand function X (P, W) satisfies Walras' law if for every P >> 0 and W > 0, we have P.X = W for all X ∈ X (P, W). D. Walras' law says consumer fully expends his wealth. E. If price and wealth both change in same proportion, then individual consumption choice does not change.
Walrasian demand: A zero-degree definition; B degree-one property; C p·x=w; D पूरा wealth spent; E price/wealth equal scaling से choice unchanged।
(a) A, B, C, D केवल
(b) B, C, D, E केवल
(c) A, B, C, E केवल
(d) A, C, D, E केवल
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (d) A, C, D, E केवल
Explanation: Demand is homogeneous of degree zero; local nonsatiation yields full expenditure of wealth.
व्याख्या: Demand budget scaling पर in variant है: x(αp,αw)=x(p, w)। Local nonsatiation से wealth exhaustion p·x=w मिलता है। B degree-one की mathematical definition बताता है लेकिन Walrasian demand की property नहीं।
Question 43 / प्रश्न 43
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Maximise U=q₁q₂ subject to q₁+2q₂=k. Find demands.
U=q₁q₂, p₁1, p₂2, budgetk में optimal demands?
(a) (k, k/2)
(b) (k/4, k/6)
(c) (k/2, k/4)
(d) (k/2, k/3)
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (c) (k/2, k/4)
Explanation: Equal Cobb–Douglas shares give q₁=k/2andq₂=k/4.
व्याख्या: Equal Cobb–Douglas exponents budget को half-half allocate करते हैं: q₁=k/(2p₁)=k/2, q₂=k/(2p₂)=k/4। Check q₁+2q₂=k और MU₁/MU₂=q₂/q₁=1/2।
Question 71 / प्रश्न 71
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Suppose good 1 is taken on horizontal axis and good 2 on vertical axis, then what happens to the budget line if the price of good 1 double and price of good 2 triples?
p₁double, p₂triple, wealth fixed में budget line?
(a) Steeper।
(b) Flatter।
(c) Vertical।
(d) Unchanged।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (b) Flatter।
Explanation: The absolute budget slope becomes2/3 of its original value, so the line flat tens.
व्याख्या: Slope=−p₁/p₂ बदलकर−2p₁/(3p₂), magnitude2/3of original। Horizontal intercept half और vertical intercept third होता है।
Question 75 / प्रश्न 75
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Properties of expenditure function are (in the context of utility theory), A. Homogeneous of degree one in price, P B. Strictly increasing in utility, u and non- decreasing in price, P for any good 1. C. Concave in P D. Continuous in P and u E. Strictly convex in P
Expenditure function: A degree1in prices; B increasing utility/non decreasing prices; C concave prices; D continuous; E strictly convex prices।
(a) A, C, D, E केवल
(b) A, B, D, E केवल
(c) A, B, C, D केवल
(d) B, C, D, E केवल
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (c) A, B, C, D केवल
Explanation: A minimum over linear price functions is concave in prices; the expenditure function is homogeneous of degree one.
व्याख्या: e(p, u)=min p·x for utility≥u। Minimum of linear price functions concave होता है, convex नहीं। Homogeneity1, monotonicity और suitable preferences पर continuity/increasing utility standard properties हैं।
Production and costs
उत्पादन और लागत
Question 41 / प्रश्न 41
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Which of the following is true for the Clark- Wicksteed-Walras product exhaustion theorem A. The assumption of a homogeneous production function is necessary. B. It is an identity that holds for all values of the variables. C. The assumption of a homogeneous production function is not necessary. D. It is not an identity since it holds only for the values of the variables in the long-run equilibrium. E. It holds for all types of production functions.
Clark–Wicksteed–Walras exhaustion: A homogeneity necessary; B all points identity; C homogeneity not necessary; D long run equilibrium result; E general production functions।
(a) A और B केवल
(b) A और D केवल
(c) B, C और E केवल
(d) C, D और E केवल
Answer & Explanation / उत्तर और व्याख्या
उत्तर: equilibrium-version में
Explanation: The equilibrium exhaustion result differs from the CRS Euler identity; the question mixes these formulations.
व्याख्या: General competitive long-run zero-profit equilibrium में marginal-product payments total product exhaust कर सकते हैं; global homogeneity जरूरी नहीं। Euler CRS theorem का अलग algebraic version A/B देता है। E का अर्थ suitable production function admitting such equilibrium है, हर pathologicalfunction पर unconditional claim नहीं।
Welfare and equilibrium
कल्याण और संतुलन
Question 68 / प्रश्न 68
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Which of the following is not true in the case of second theorem of welfare economics?
Second welfare theorem पर कौन गलत ?
(a) Convexpreferences में suitabletransfers से efficientallocation decentralise हो सकता।
(b) Convexproductionsetsrelevant।
(c) Increasingreturns परभी standardtheoremholds।
(d) Allocation/distribution अलग किएजासकते।
Answer & Explanation / उत्तर और व्याख्या
उत्तर: (c) Increasingreturns परभी standardtheoremholds।
Explanation: Increasing returns can violate convexity and prevent decentralisation at competitive supporting prices.
व्याख्या: increasing returns non convex production sets बना सकते हैं, जिससे supporting competitive prices exist नहीं करते। Theorem suitable convexity/regularity और lump-sum redistribution की assumptions पर निर्भर है।