JNU Questions

Posted by RHIDIMA on May 16, 2013; 12:12pm
URL: http://discussion-forum.276.s1.nabble.com/JNU-Questions-tp7580796.html

Someone plz match ur answers with me for the following questions...

Q1) A fair dice has given the number 6 on 5 consecutive throws. What is the probability that the next throw will also give the sam no 6?
a) 1/30
b) 1/6
c) 5/6
d) None of the above

Q2) A monopolist faces a demand curve q(p)=1/p. He incurs a cost of Rs 3 per unit of output produced. There is no fixed cost. His optimal output choice is-
a) 2
b) 3
c) 0
d) No such optimal output exists

Q3) If demand facing a monopolit is measured in kgs & the price is measured in Rs/kg, the DW loss due to the monopolist charging a profit maximizing price is measured;
a) Ln Rs
b) Ln kgs
c) Ln Rs/kg
d) As a pure no

Q4) The nature of the LR =m for a monopolistically  competitive firm differs from that of a perfectly competitive firm bcoz;
a) The presence of supernormal profits
b) The presence of excess capacity
c) The quality b/w MR & MC’
d) None of the above

Q5) A monopolist faces a demand curve with unit price elasticity of demand. For such a monopolist if MC are +ve;
a) Profit maximizing output dsn’t exist
b) Profit maximizing output is where MR=MC & MR is decreasing
c) Profit maximizing output is where AR=MR & AR is decreasing
d) None of the above

Q6) Suppose the monopolist has the C(q)=10q. Inverse demand fn is p(q)=20/q. What is the monopolist’s profit maximizing q?
a) The problem dsn’t have a soln
b) 1
c) Infinity
d) 0

ANSWERS
1) b
2) d
3) d
4) a
5) a (if we consider the case of rectangular hyperbola with ed=1..)
6) a