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PREVIOUS YEAR QUESTIONS OF BISEM

BASICS OF INDUSTRIAL SOCIOLOGY, ECONOMICS & MANAGEMENT HUM 201 E PREVIOUS YEAR QUESTIONS OF BISEM 1.       Explain the law of diminishing returns along with its modern version. Discuss that this law is a universal law.                                                                                                    [BT-3/D08] 2.       Describe the term Price discrimination. When is it (a) possible, and (b) profitable?                                                                 [BT-3/D08] 3.       Explain the various Cost Concepts. Discuss why the average Cost Curve U-shaped is.                                                                                                                                               [BT-4/JX] 4.       Discuss the difference between monopoly and perfect competition.             [BT-4/JX] 5.       Differentiate between the long term equilibrium of a monopolist and perfectly competitive firm. Will the monopolist always c