BECC-101 IGNOU English Medium Solved Assignments 2025-26

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BECC-101 IGNOU English Medium Solved Assignments 2025-26 Available

1. (a) Distinguish between law of demand and price elasticity of demand. Identify the factors on which
price elasticity of depend. How does elasticity of demand help the economic agents in decision making.
(b) Given the following information, find out the price elasticity of demand and cross elasticity of
demand:
𝑸𝒅=𝟏𝟎−𝟐𝑷+𝑷𝒔
where 𝑄𝑑 is the quantity demanded, P is the price of the product which is given as Rs. 10, and 𝑃𝑠
is the price of the substitute good which is given as Rs 20.
2. (a) What do you understand by the term ‘market failure’? Explain the various sources of market failure.
Which policy instruments can be resorted to regulate the inefficient market situations?
(b) What is production possibility frontier? How does the marginal rate of transformation relate to the
production possibility frontier?
Assignment Two
Answer the following Middle Category questions in about 250 words each. Each question
carries 10 marks. Word limit does not apply in application part of the question.
3. (a) Discuss the various shapes of isoquants that may be assumed depending on the degree substitutability. What are the properties of Isoquants?
(b) Can a firm have a production function that exhibits increasing returns to scale, constant returns to
scale and decreasing returns to scale as output increases? Give reasons in support of your answer.
4. Suppose a competitive firm has a total cost function TC(q)=450+15q+2𝑞 and marginal cost
function MC(q)=15+4q. If the market price is P=Rs 115 per unit,
(i) Find the level of output produced by the firm.
(ii) Find the level of profit and the level of producer surplus.
5. How does equilibrium in an oligopolistic market is distinct from equilibrium in perfectly
competitive market and monopolistic competition? Explain the Cournot’s model of price and
output determination under oligopoly.
Assignment Three
Answer the following Short Category questions in about 100 words each. Each question
carries 6 marks.Word limit does not apply in application part of the question.
6. Given the following supply and demand functions of a commodity X, determine its equilibrium
price and quantity.
𝑄𝑑 = 8000 − 1000𝑃𝑥
𝑄𝑠 = −4000 + 2000𝑃𝑥
7. Explain with diagrams the approaches that are used to decompose the price effect into substation
effect and income effect.
8. Identify the distortions that lead to failure in achieving the efficiency in perfectly competitive
market.
9. In an economy of two commodities (X and Y) and two factors (L and K), how is general equilibrium
of production reached?
10. Distinguish between any two of the followings:
(i) Marginal physical product and marginal revenue product.
(ii) Adverse selection and moral hazards.
(iii) Normal profit and abnormal profit