Question 1 Discuss the exceptions to the law of demand
Question 2 Explain Elasticity of Supply with the help of a diagram and factors affecting elasticity of supply
Question 3 What are Isoquants? Explain its characteristics
Question 4 Explain graphically price determination of monopoly in the short run as well as in the long run
Question 5 Given the data: Price = $50/unit, Quantity sold = $400, Labour wages = $4000, Raw materials = $3500, Administrative costs= $5000 and other misc. expenses = $2000. Find out the gross profit and net profit
Question 6 What is consumption function? Explain using graph