Scribd
Upload
26 views8 pages

Final 2016-5

Uploaded by

mai20230418
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
26 views8 pages

Final 2016-5

Uploaded by

mai20230418
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 8

PRINCESS SUMAYA UNIVERSITY FOR TECHNOLOGY

The King Talal Faculty for Business and Technology


EXAMINATIONS

Department: MIS

Student Name:…………………...…… (in Arabic)

Student No:

EXAMINATION INFORMATION

Final Examination Date: 4/06/2016

Academic Year: 2015/2016 Semester: Second

Course Name: Microeconomics Course No: 32131

Exam Location: 201 - 205 Duration: 120 Minutes

Section No Schedule Instructor


 Dr. Abdul Ghafoor Al Saidi
 Dr. jaber Al-Bduor
For Examiners Use Only
Q# Max.Mark Mark Earned
1 10
2 5
3 4
4 6
5 8
6 7
Total 40

EXAMINATION INSTRUCTIONS
1. Write your full name and number before you start answering questions.
2. Tick your correct section number and instructor.
3. This exam paper is worth 40% of the total mark for the course.
4. This exam paper contains 6 questions.
5. All questions are self-explanatory. Do not ask for clarification.
6. The student is required to answer all questions.
7. MOBILE PHONES are not allowed in the examination venue.
8. In no circumstances must this exam paper be taken out of the examination room.
9. HANDWRITTING, Students are warned that marks may be lost through illegible
handwriting. The examiner can give credit only for what he/she can read.

Please write clearly in ink

1
QUESTION ONE (10) MARKS

2
Following are data given on a producer (firm) in a market;

PQ P FC VC TC TR AV ATC MC MR PROFI
C T

0 8 8
1 8 9
2 8 10
3 8 11
4 8 13
5 8 19
6 8 27
7 8 37

1. Calculate profit for each quantity. How much should the firm produce to
maximize profit?
2. Calculate marginal revenue and marginal cost for each quantity. Graph
them. At what quantity do these curves cross? How does this relate to your
answer to part (1)?
3. Calculate average variable cost and average total cost for each quantity.
Graph them.
4. Can you tell whether this firm is in a competitive industry or monopoly
industry? Can you tell whether the industry in a short – run or long- run
equilibrium?

3
QUESTION SECOND (5) MARKS

Define total cost, variable cost, and fixed cost. Give their equations and graph them?

4
QUESTION THREE (4) MARKS

What are the characteristics of a monopolistic competitive market? Why it takes


this name and gives an example for products in such a market?

5
QUESTION FOUR (6) MARK

1. What are the defect in the old utility theory, and why economists develop this
theory to the new theory (indifference curves theory), elaborate on this?

2. Why does supply curve slope upwards?

6
QUESTION FIVE (8) MARK

Define and draw:

 Surplus

 Indifference curve map

 Inelastic supply

 Law of diminishing marginal returns

7
QUESTION SIX (7) MARK

According to the demand:

1. Define the demand law?

2. Following the model for demand schedule, complete this Demand schedule, and
draw the Demand curve?

price Quantity
Demand
$5

$ 10

$ 15

$ 20

3. List the determinants of the demand?

You might also like