1. Explain the objectives of a firm. How is profit maximization the most important objective of a firm? Discuss.
2. What are the marketing approaches to demand measurement ? Explain how Delphi Technique is different from Market Experiments Technique.
3. Differentiate between Economies of Scale and Economies of Scope. Give examples .
4. (a) Briefly explain the Profit Maximizing output in the short run
(b)Determine the equilibrium price and equilibrium output of the firm under perfect competition, in the following situation:
Aggregate Demand: Q = 50 – 1.0p
Aggregate Supply: Q = 20 + 2.0p
5. Discuss in detail the Chronology of Indian Telecom deregulation from 1992 to 2003.
6. Write Short Notes on the following:
(a)Cross Price Elasticity
(b)Total Product and Marginal Product
(c)Cartel Profit Maximization
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