Micro-Economic Theory (Question-Answer Series) One Week Series (2021)
Book Code: OBM/19/11/81826
Publisher: Parth Publishers
University: Rajasthan University (RU)
This One Week Series is Written in English Language in Question Answer Series According to syllabus of Rajasthan University.
Its also Useful for other's Universities.
PAPER 1- MICRO ECONOMIC THEORY
Section - A Nature and scope of Economics, Methodology: Micro and Macro Economics, Static and Dynamic analysis, Positive and Normative Economics. Theory of Consumer Behavior: Utility Analysis, Indifference Curve Analysis: Consumer's Equilibrium, Price, Substitution and Income Effects, Normal, Inferior and Giffen Goods. Law of Demand and the Demand Curve. Elasticity of Demand: Price, Income and Cross Elasticity, Arc and Point Elasticity, Relationship between Elasticity, AR, MR and TR Factors affecting Price Elasticity of Demand. Substitute and Complementary Goods, Consumer's Surplus.
Section- B Production Function: Law of Variable Proportions, Three Stages of Production Function, Law of Returns to Scale. Iso-quant and Iso-Cost, Optimum Factor Combination. Theory of Cost: Short-run and Long-Run Cost Curves. Market Structures: Determination of Price and Output in the Short and Long Run under Perfect Competition, Monopoly, Discriminating Monopoly, Monopolistic Competition, Excess Capacity.
Section-C Theory of Distribution, Marginal Productivity Theory, Factor Pricing Under Perfect and Imperfect Competition in Labor Market, Ricardian Theory of Rent, Modem Theory of Rent and Quasi-rent. Theory of Interest: Classical and Liquidity Preference, Theory of Profit, Risk and Uncertainty.