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IGNOU MMPC-10 (January 2025 – July 2025) Assignment Questions
IGNOU MMPC-10 (January 2024 – July 2024) Assignment Questions
1. “According to the Equi-Marginal principle, different courses of action should be pursued up to the point where all the courses provide equal marginal benefit per unit of cost.” Discuss Equi-Marginal principle with the help of an example.
2. “The income elasticity of demand measures the responsiveness of sales to changes in income, ceteris paribus.” Elaborate upon the concept of income elasticity of demand with the help of an example.
3. Explain the relationship between Average Product & Marginal Product, and Average Variable Cost & Marginal Cost with the help of diagrams.
4. Discuss the profit maximizing output decision by perfectly competitive firms in the long run when all inputs and costs are variable.
5. Write short notes on the following:
- Decision Tree
- Tastes and Preferences as determinants of demand
- Economic and Technical Efficiency
- Monopoly
