IGNOU BAG BECC 131 Principles of Microeconomics-I Solved Assignment ENGLISH

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BECC 131 Solved Assignment

BECC 131: Principles of Microeconomics-I

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Title Name IGNOU BAG BECC 131 Principles of Microeconomics-I Solved Assignment ENGLISH
Type Soft Copy (E-Assignment) .pdf
University IGNOU
Degree BACHELOR DEGREE PROGRAMMES
Course Code BAG
Course Name BACHELOR OF ARTS
Subject Code BECC 131
Subject Name Principles of Microeconomics-I
Year 2025 2026
Session -
Language ENGLISH
Assignment Code BECC 131/Assignment-1/2025 2026
Product Description Assignment of BAG (BACHELOR OF ARTS) 2025 2026. Latest BECC 131 2025-26 Solved Assignment Solutions
Format Ready-to-Print PDF (.soft copy)

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BECC 131 (July 2025 - January 2026) - ENGLISH

PRINCIPLES OF MICROECONOMICS - I

Tutor Marked Assignments

Course Code: BECC-131

Assignment Code: Asst /TMA/2025-26

Total Marks: 100

Assignment One

Answer the following Descriptive Category questions in about 500 words each. Each question carries 20 marks

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) Explain with illustration the three stages of production. Why should a rational producer under competitive condition should produce in stage II?

(b) What is production possibility curve (PPC)? How does a PPC provide an economy's menu of choices?

Assignment Two

Answer the following Middle Category questions in about 250 words each. Each question carries 10 marks.

3. (a) How does want and utility are interconnected to each other? How is the cardinal approach different from ordinal approach to consumer behavior?

(b) On what grounds, the law of diminishing marginal utility is criticized by the modern economists?

4. (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.

5. What are implicit costs? How are these implicit costs are estimated? Do you think that these costs be included as part of costs of production? Give reasons for your answer.

Assignment Three

Answer the following Short Category questions in about 100 words each. Each question carries 6 marks.

6. Explain how does 'scarcity' lie at the root of all economic activities?

7. Explain with diagrams the approaches that are used to decompose the price effect into substation effect and income effect.

8. Given the following supply and demand functions of a commodity X, determine its equilibrium price and quantity.

Qd 8000-1000Px

Qs= -4000+2000Px

9. Discuss the relationship between marginal and average product curves.

10. What do you mean by the term 'isocosts'? How does isocosts help a producer to attain equilibrium?

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Course: BACHELOR OF ARTS (BAG)
Subject: BECC 131 - Principles of Microeconomics-I
Session: January 2026 - December 2026
Language: ENGLISH

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Product Information

Course Name BACHELOR OF ARTS
Course Code BAG
Subject Code BECC 131
Subject Principles of Microeconomics-I
Programme BACHELOR DEGREE PROGRAMMES Courses
Language ENGLISH
Material Type Solved Assignment – Soft Copy / PDF

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