JNU 2013 SSS DISCUSSION

[Homer Simpson]

73(a) - "successful product differentiation leads to monopolistic competition and is inconsistent with the conditions for perfect competition, which include the requirement that the products of competing firms should be perfect substitutes" (wikipedia)

74-b
86-a

36- (a) no idea about the logic!

Can you explain 82? somehow my answer isnt matching :(

[Ridhika]

@Tsuki for 82 .. let total voters =x 

Then equation to be solved is x = 0.5x + (2/3)*x -10+6 

This gives x = 24

----- Reply message -----
From: "tsuki [via Discussion forum]" <ml-node+[hidden email]>
To: "Ridhika" <[hidden email]>
Subject: JNU 2013 SSS DISCUSSION
Date: Tue, Apr 15, 2014 7:49 PM

73(a) - "successful product differentiation leads to monopolistic competition and is inconsistent with the conditions for perfect competition, which include the requirement that the products of competing firms should be perfect substitutes" (wikipedia)

74-b
86-a

36- (a) no idea about the logic!

Can you explain 82? somehow my answer isnt matching :(

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NAML

[Homer Simpson]

oh thanks :D Made a careless mistake there!

[Ridhika]

:D anytime .. how did you do 69 and 33? I have no idea how to approach them :( 

----- Reply message -----
From: "tsuki [via Discussion forum]" <ml-node+[hidden email]>
To: "Ridhika" <[hidden email]>
Subject: JNU 2013 SSS DISCUSSION
Date: Tue, Apr 15, 2014 7:57 PM

oh thanks :D Made a careless mistake there!

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NAML

[Ashima]

Tsuki: About 73rd, this statement of yours cancels option c. But can't it still be b?

A standardized product can be  common btw monopolistic competition and perfect competition? Know?

[The Villain]

@Ashima...tsuki is ryttge quest is nt abt monopoly and pc...its monopolistic and pc...n d conmon pt is that there arelarge no of firms .the only diff btw the 2 is product diff

[Ashima]

Oh got that :

Thanks Ron:)
Also can you please explain 33 and 69!

[The Villain]

q69 ...i think its c...but m not 100% sure

[Homer Simpson]

for 69, terms of trade formula = agricultural prices/industry prices

calculate the ratios. if the ratio has risen compared to before, agriculture is getting better prices compared to industry and thus terms of trade have moved in favor of agriculture.

[The Villain]

I did the same thing...c

[Homer Simpson]

i am getting 1.333 for first ratio and 1.303 for second one. its a very minute difference, so perhaps we can consider it unchanged actually.

[The Villain]

Yup..

[Homer Simpson]

What are you getting for 14? confused between a and c

[The Villain]

I'm getting a

[suvidya patel]

plz solve 54 to 57

[Ridhika]

Thanks tsuki!

Someone please help with 33?

[anishagulati]

I am not sure about 33. But I think, it should be a.
According to the question, inflation will increase by 0.15*0.2 percentage.

Can you please help me with q53,58,70?

[Homer Simpson]

hey Ridhika, 33 would be (a) - mixed up the options. Anisha's approach is fine.

[Bin]

Finally, what is the answer to question 3? Is it 48 or 68? What is the exact formula?

[Homer Simpson]

it will be 68.

var (W) = 4var(x) + 9var(y) + 2x2x3xcov(xy) = 68