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B.C.O.G – 171
PRINCIPLES
OF MICRO ECONOMICS IGNOU BCOG 171 Solved
Assignment 2022-23
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Assignment I
Q.1 Explain the main
determinants of demand of a commodity in the market. Distinguish between an
Inferior good (commodity) and a Giffen good.
Q.2 Explain the Law of Supply.
Point out its exceptions.
Q.3 Explain the concept of
consumer's surplus. What are its limitations?
Q.4 What is full-cost pricing
principle? How does it lead to a higher than optimum production?
Q.5 Explain the marginal
productivity theory of distribution. Also state its assumptions. Why is the
marginal productivity theory not considered a satisfactory theory of
distribution?
Assignment II
Q.6 Distinguish between
positive and normative economics. Which one should be preferred and why?
Q.7 Explain the attainment of
equilibrium position by a consumer with the help of an indifference curve.
Q.8 What is backward bending
supply curve? Explain with an example.
Q.9 Explain the nature of
Average Revenue Curve and Marginal Revenue Curve of a firm under Oligopoly.
Q.10 Discuss the concept of
quasi-rent. How does it differ from the concept of economic rent?
Assignment III
Q.11 ‘Scarcity is the mother of
every economic system.’ Explain.
Q.12 What are the properties of
an Isoquant?
Q.13 Distinguish between primary
and intermediate inputs.
Q.14 Critically examine the Law
of Equimarginal Utility.
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BCOG 171 Solved Assignment English Medium 2022-23 The Indira Gandhi National
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