..::VU-Pink::.. ECO401 MY TODAY'S PAPER

My today's paper of eco401 with following pattern

22 quizzes all are from past papers

1.      Explain the relationship between income and elasticity demand of inferior goods. Explain with the draw of graph. 5 marks

2.      The quantity, price and TC were given TR was required to find out. 5marks

3.      What will be happen to the average physical product if

·        Marginal Physical Product is equal to Average Physical Product,

·        Marginal Physical Product is greater than Average Physical Product,

·        Marginal Physical Product is less than Average Physical Product 3 marks

4. Define the key ingredients of any market structure 3marks

5. Assume that demand for a product is inelastic, will consumer expenditure go on increasing as price rises? 3marks

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