NATIONAL OPEN UNIVERSITY OF NIGERIA
14/16 AHMADU BELLO WAY, VICTORIA ISLAND, LAGOS
SCHOOL OF MANAGEMENT SCIENCES
MARCH, 2014 EXAMINATION
COURSE CODE: BHM 743 CREDIT UNIT: 2
COURSE TITLE: MANAGERIAL ECONOMICS
TIME ALLOWED: 2 HOURS
Instructions: 1. Attempt question number one (1) and any other (2) questions.
2. Question number 1 carries 30 marks, while the other questions carry 20 marks each.
3. Present all your points in coherent and orderly manner.
1. (a) Explain the following in detail:
i. Theory of Demand and;
ii. Theory of Production
(b) With the aid of a diagram, briefly discuss the Life Cycle of a product.
(c)Mention six items normally considered in Capital budgeting (30 Marks)
2.Enumerate and elucidate seven (7)characteristics of a perfect competition. (20 Marks)
3. Explain the following types of demand, giving relevant examples:
a) Joint or complementary demand
b) Composite demand
c) Derived demand
d) Competitive demand (20 Marks)
4. With the aid of a diagram, explain a shift in the Demand Curve. (20 Marks)
5. (a) Define Managerial Economics
(b) State the law of Diminishing Marginal Utility
(c) Identify six assumptions of the Ordinalist Approach (20 Marks)
For the 2015 – till date past questions for this course CLICK HERE
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