ISI 2017 Exam Paper and Answer Key

[Econ17]

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[Algaeconomics]

I had got 1 when I solved it during the exam.

[Akki]

In (4,5,7), the profit is 21. Consumer 1 and 3 will buy the bundle. Consumer 2 will also buy the bundle because if he buys the goods individually he pays 9 while he can get both the goods at 7. So he will maximise his utility and will buy the bundle. So the profit is 7+7+7=21.

(7,6,9)  is optimal. 1 will buy only X, 3 will buy only Y and 2 will buy the bundle. Profit is 22.

[Amit Goyal]

Notations-  T0 : Lump sum Tax, G : Govt. Expenditure, tY + T0 :  Total Tax, Y : Income

dY = c(1-t)dY - cdT0 +dG

dG = tdY + dT0

Solving the system of equations, we get

dY = dG.

Therefore, multiplier is 1.

[Econ17]

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[Algaeconomics]

Oh acha... Thanks yaar :)

[Econ17]

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[sagarsachdeva8]

Hello Amit Sir.
As per your answer key, I am getting a score of 88 in Maths and 78 in Economics I.e. a total of 166/240 which is more than the cut off but my name isn't in the list. What can I do?

[Akki]

this is what i did...

[eco aspirant]

Sir this is regarding question 25 of PEB 2017 paper.
My query is that why it is not possible for both the firms to operate in the perfectly competitive industry

According to question, we are not given any value for price and the firms are producing strictly positive output .

Mc for A = 1 ; Mc for B =  3y^2 -4y + 1

Now for 0 < y < 4/3 only firm B can operate since it has lower mc

For y= 4/3 either can operate

For y > 4/3 only firm A can operate

So shouldn't the answer to this question be option (d)

[Autofill]

From this key I am also getting 96 and 76, but couldn't make through. Min 3 questions must have different answers(according to isi) then what we are getting.

[Halflife]

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[eco aspirant]

Yaar there are so many people who genuinely feel that there is something wrong in the admission list since many of us feel that we have scored more than the cutoff the admission authority needs to do something in this matter

[eco aspirant]

I also did the same foolishness. Lost 4 marks

[Halflife]

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[Asd1995]

They only pick up between 11.30 to 2ish

[Algaeconomics]

Another doubt i had was in the first question
Can you explain how is bundle 1 pareto efficient when we have a pareto superior bundle (20,30) or does pareto optimality require all resources to be exhausted. Sorry guys for the silly doubts .

[Halflife]

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[Amit Goyal]

I have changed the notation and made it as per the question asked in the paper.

[Asd1995]

Sir, kindly have a look at this.

In reference to the answer key posted here Q14, it says that increase in interest rates decrease savings. I've found a lot of data as well as articles online that say otherwise.

1. gifre.org/library/upload/volume/1-7-EFFECT-vol-3-3-gjcmp.pdf
 Case study to support my point

2. Berkley lecture slides, conclude that effect is overall ambigioous but mostly is positive correlatioin between the two
http://eml.berkeley.edu/~webfac/wood/e100b_f08/consumption.pdf

Kindly clarify.