JNU 2005

[Ankit Agrawal]

Please answer these questions.


Q 8) There are two egg delivery boys you can order eggs from. The probability of the first boy falling and breaking all the eggs is 1/2 and the probability of the second boy falling and breaking all the eggs is 1/5. How would you distribute your order for eggs so as to minimise the risk of total loss of eggs?

(a) Order all your eggs from the first boy
(b) Order all your eggs from the second boy
(c) Distribute the order for eggs between the two boys
(d) Cannot say on the basis of this information


Q 11) For an economy, the long run rate of growth of GDP is 5% per annum at full employment. The investment rate is 20% and the rate of growth of labor force is 2% per annum. Then the capital-output ratio is
(a) 2
(b) 5
(c) 7
(d) 10


Q 16) If the demand curve facing a monopolist is given by p=10q^(-15), then the output sold by the monopolist

(a) cannot be determined by maximum profits
(b) is determined by maximizing profits
(c) is determined by maximum profits provided the cost is constant
(d) is determined by maximum profits provided the cost is an increasing function of output

[THERE ARE NO OPTIONS FOR THE FOLLOWING QUESTIONS. THEY ARE THEORETICAL QUESTIONS FROM 2005]

Q 22) A and B are playing the following game. A starts and tosses a fair coin. If the outcome is head; A wins. If A fails to win, he passes the coin to B, who then attempts to win on her toss(A win occurs if the outcome is head). They continue to toss the coin back and forth until one of them wins. What is the probability of A winning the game?


Q 27) In a perfectly competitive industry, the long-run demand curve is given by p=1000-q; the long run average cost function for the representative firm is given by (q-4)^2 + 40. How many identical firms can exist in this industry? Explain. (q: quantity sold by a firm, p: price)


Q 30) Consider a gambling game where you have to throw two dice simultaneously. You would gain Rs. 2 for any even number that shows up, and lose Re 1 for any odd number that shows up. What is your expected gain or loss from the game?[ I am getting 1 as my answer. Is it correct?]

[Sinistral]

8) option b (I think. someone plz verify)

22) A can win if the order of sequence is:
     H, TTH, TTTTH, TTTTTTH....
     summing up the probabilities of above elements infinitely
      .5^1 +.5^3 +.5^5 +.5^7 -----
       = .5/(1-.5^2)
       = 2/3

30) yes the ans is Re1 only
      P(EE)*4 +P(EO,OE)*1 +P(OO)*(-2)
     = (1/4)*4  + (1/2)*1 + (1/4)*(-2)
     = 1

[vandita24x7]

yes Q.8 option B.
Sinistral.. plz elaborate on Q.30

[vandita24x7]

ok.. i got it..
 i think Q.16 shud be c

[laracroft]

Hi Ankit

i think...
Q.16 should be option A
Q.8 option B
Q.30 yr answer is correct !
could u plz provide the correct answers if u have them?

[Ankit Agrawal]

I don't have the correct answers.

I have observed that question like Q 16 are asked a lot. But I am unable to figure them out at all. Can you provide some explanation for your answer?

[Masterpiece]

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[Ankit Agrawal]

Why?

[Masterpiece]

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[Masterpiece]

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[laracroft]

Hi Masterpiece

Could u plz post the solution to Q.27 ... how did u get the answer as 89 firms??

[laracroft]

Q. 19 - option C

[swati]

how did u get 89 firms?