syllabus of me

SYLLABUS OF ME
UNIT-1
Nature & scope of ME,
Nature of marginal analyses,
Alternative objective of business firms,
Cardinal utility theory : introduction,
Indifference curve techniqe & the theory of consumer choice: Consumer surplus, price, income & substitution effect,
Demand elasticities Demand estimation & forecasting,
Relationship between price elasticity & marginal revenues
UNIT-2nd
Law of variable proportions,
law of return, Optimal input combinations,
output cost relations, Engineering cost curve,
technology change & production decision,
Revenue curves of a firm,
duopoly analysis using reaction curves,
Price- output decisions under alternative market structures,
Shut down points, baumol’s sale maximization model,
advertising & price output decision