KUMAUN UNIVERSITY NAINITAL ANNUAL EXAMINATION SCHEME 2013 Programme of M. A. (Previous) & M.A. (Final) |Day & Date |SUBJECT |PAPER / TIME | | | |11 AM- 2 PM | |Thursday‚ 18.4.13 |1. English (Previous)
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CHAPTER 3 THEORETICAL FRAMEWORK The theoretical framework of the thesis is multidisciplinary in approach. First‚ tourism impacts and tourism in the Gross Domestic Product are pooled into the framework to better understand the impact of tourism in the whole economy. Finally‚ general equilibrium theories and the theoretical structure of an applied CGE model are briefly discussed to better understand the framework under which the tourism sub-sector interacts with the other sectors‚ sub-sectors
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WHAT ARE COSTS AND PROFITS? HUNGRY HELEN’S COOKIE FACTORY • Helen‚ the owner of the cookie factory‚ buys flour‚ sugar‚ flavorings‚ and other cookie ingredients. • She also buys the mixers and the ovens and hires workers to run the equipment. • She then sells the resulting cookies to consumers. 2 TOTAL REVENUE‚ TOTAL COST‚ AND PROFIT • The amount that Helen receives for the sale of its output (cookies) is its total revenue. • The amount that the firm pays to buy inputs (flour‚ sugar‚ workers
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Evaluate the view that‚ because price discrimination enables firms to make more profit‚ firms‚ but not consumers‚ benefit from price discrimination Price discrimination is where a firm changes different consumers different prices for the same service. Consumer Surplus is the difference between what the consumer is willing to pay and the price they actually have to pay. In all three degrees of price discrimination firms are able to make more profit and eliminate any excess capacity they
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Oligopoly From Wikipedia‚ the free encyclopedia An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). Oligopolies can result from various forms of collusion which reduce competition and lead to higher costs for consumers. [1] With few sellers‚ each oligopolist is likely to be aware of the actions of the others. The decisions of one firm therefore influence and are influenced by the decisions of other firms. Strategic planning by oligopolists
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195 9708_w12_qp_42 Q4 Some workers producing non-essential luxury goods or services are paid very highly. The wage rate is not the economic value of a good or service‚ but more to social factors or fashion. The economic theory of wages is‚ therefore‚ of little use in explaining wage differentials. Assess this argument. Intro: Labor market supply and demand‚ wage determination‚ wage differentials general‚ ECONOMIC THEORY OF WAGES P1: production of luxury goods vs. other normal/inferior/Giffen/Veblen
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Curled Metal Inc – Engineered Product Division Overview Cumberland Metal Industries (CMI) was a company which sold metal as raw material in other products. After the company had developed the product – Slip Seal that could meet the demanding specification of the automakers‚ it had grown rapidly over the past decade. The sales increased from $750‚000 in 1991 to over $55 million in 2007. However‚ the sales decreased from 61 million in 2006 to 55 million in 2007‚ a net decrease of 9.5%‚ the net
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Economics Exam #3 Review 1. Characteristics of competitive markets (3): There must be many buyers and sellers‚ none of whom can have a large market share‚ a few players cannot dominate the market. Firms must produce a standardized product‚ buyers must see all their products as equivalent. (Identical (Homogenous) Products). Firms and resources are typically fully mobile‚ allowing free exit and entry. These three conditions make all consumers and producers price-takers. Models: Section 12.2
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Perfect competition Learning outcomes You should be able to: Describe the assumed characteristics of perfect competition: a large number of firms; a homogeneous product‚ freedom of entry and exit (no barriers to entry or exit); perfect information and perfect resource mobility (factors of production can move easily in and out of the market) Explain‚ using a diagram‚ the shape of the perfectly competitive firm’s average revenue and marginal revenue curves‚ indicating that the assumptions of perfect
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1. a. What is the “average” size of the market in CMI pads given that each set of 6 CMI pads will drive 10‚000 feet? Market Size Hammers 19500 26000 Weeks used 25 25 Hours per week 30 30 Feet per hour 20 20 Feet per year 290000000 390000000 Feet Per Set (4 initially plus 2) 10000 10000 Sets per year 29000 39000 Pads per year 174000 234000 Pads Manufactured 3000 3000 % of Market 1.72% 1.28% It is estimated that there are 19‚500 to 26‚000 hammers in use 25 weeks per year or 30 hours per
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