Description

MEC 203 MAEC Ignou Solved Assignment 2024

Course : MA Economics
Session 2024
Submission date : 1. By 31st October 2023, for the students willing to appear in December 2023 term end examination. 2. By 30thApril 2024, for the students willing to appear in June 2024 term end examination.

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1. a) Explain the necessary and sufficient conditions in case of unconstrained optimisation.
b) Consider a consumer who buys two goods, x and y with utility function u(x, y) = 2√x + y. The
consumer’s income is 20 and price of y is 4. Compute the optimal consumption bundle when the
price of x is equal to 1 using constrained optimisation. (10 + 10 = 20)
2. With respect to the applications of dynamic optimisation, explain the optimal rate of extraction
of exhaustible resources by monopoly.

MEC 203 MAEC Ignou Solved Assignment 2024

Section B
3. What is a discontinuous function? Discuss the two types of discontinuous functions along with
their diagrams.
4. Explain the concept of a stationary point and inflexion point. Is a stationary point always a
point of inflexion? Why or why not? (6 +6 =12)
5. What do you understand by the term ‘joint distribution’ and ‘marginal distribution’? Discuss
with the help of an example.

MEC 203 MAEC Ignou Solved Assignment 2024

6.What is a sample? Explain with the help of an example. Discuss any two types of sampling
techniques. (6 + 6 = 12)
7) Write short notes on the following: (3 X 4 = 12)
(i) One-tailed and two-tailed tests
(ii) One to one and onto functions
(iii) Hyperbola
(iv) Local minima