BECC 104 Mathematical Methods in Economics -II Question Paper June 2025 in English

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B. A. (HONS.) ECONOMICS (BAECH)
Term-End Examination June, 2025
BECC-104 : MATHEMATICAL METHODS IN ECONOMICS—II

Time : 3 Hours Maximum Marks : 100
Note : Answer questions from all the Sections as directed.

Section—A

1. Given the production function AL1/2 K1/2, where L stands for labour and K stands for capital.
Answer the following questions :
(a) Find Marginal Product of each factor.
(b) What is the elasticity of substitution between L and K ? 1
(c) Show that the Euler Theorem is satisfied

2. Given the national income model :
Y = C + 1000 + 1500
C = 40 + 0.7 (Y – T)
T = 100 + 0.4Y
Find the equilibrium income, consumption and taxes using Cramer’s rule

Section—B

3. Explain how consumer equilibrium can be found out using the Lagrange multiplier method

4. Explain Envelope theorem in case of constrained optimization

5. Show how Roy’s identity can be derived using the envelope theorem

6. Explain compensated demand function and Shephard’s lemma

Section—C

7. Explain the following :
(a) Young’s theorem
(b) Homogeneous and Homothetic functions

8. Write short notes on following :
(a) Roy’s identity
(b) Multivariate function.

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