MEC- Iyr-2009-10 Eng

# MEC Iyr-2009-10 Eng - MEC MASTER OF ARTS(ECONOMICS ASSIGNMENTS 2009-10 For MEC First Year Courses(For July 2009 and January 2010 Sessions School of

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MEC MASTER OF ARTS (ECONOMICS) ASSIGNMENTS 2009-10 For MEC First Year Courses (For July 2009 and January 2010 Sessions) School of Social Sciences Indira Gandhi National Open University 1

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MEC-001: MICRO ECONOMIC THEORY Assignment (TMA) Course Code: MEC-001 Assignment Code: MEC-001/AST/2009-10 Maximum Marks: 100 Note: Answer all the questions. While questions in Section A carry 20 marks each, those of Section B carry 12 marks each. Section A 1. (a) Discuss the significance of the concept of conjectural variation in Cournot, Bertrand and Stackelberg Models of duopoly markets. (b) If the demand function is given by P = 100 – 0.5(q 1 + q 2 ) and the cost functions of the two firms are C 1 = 5q 1 and C 2 = 0.5q 2 2 respectively then find the equilibrium quantity and price charged by the firms if (a) firm 1 is the leader; (b) firm 2 is the leader. 2. (a) State and prove Walras’ Law.

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## This note was uploaded on 09/09/2010 for the course ECO 11230 taught by Professor Dr.nogara during the Fall '10 term at St.Francis College.

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MEC Iyr-2009-10 Eng - MEC MASTER OF ARTS(ECONOMICS ASSIGNMENTS 2009-10 For MEC First Year Courses(For July 2009 and January 2010 Sessions School of

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