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Hps2103:Accounts And Finace Question Paper

Hps2103:Accounts And Finace

Course:Bachelor Of Computer Science

Institution: Meru University Of Science And Technology question papers

Exam Year:2012

QUESTION ONE – 30 MARKS
(a) Price system is a form of economic system. Briefly explain five (5) features of this form of economic system. (5Marks) (b) Explain five (5) factors affecting demand of a product other than its own price. (5Marks) (c) The following information regards marginal utilities derived from consumption of 3 commodities A, B and C respectively, for different number of units consumed.
Marginal utilities derived from each unit of:
Units Consumed A (kshs/unit) Y(Y Ksh 5/unit (Z ksh 4/unit 1 72 75 60 2 64 65 48 3 40 50 32 4 32 35 20 5 24 25 16 6 16 15 12
Required:
(i) Calculate the equilibrium quantity. (6Marks) (ii) Calculate the minimum expenditure for the equilibrium quantity (4Marks)
(d) State and explain uses of national income statistics. (10Marks)
2
QUESTION TWO – 20 MARKS
(a) Explain situations which may lead to a monopoly power. (10Marks) (b) Fiscal policy refers to the manipulation of government revenue and expenditure to achieve various policy objectives. Briefly discuss these policy objectives. (10Marks)
QUESTION THREE – 20 MARKS
(a) Worldover economics advocates for market liberization today, however protectionism still exist. Give the argument in favour of protectionism. (10Marks)
(b) A firm in a perfect competition market established its average revenue (AR) function as: AR = 20 – ?Q
Required: (i) Calculate the average revenue generated upon producing 15 units. (2Marks) (ii) Compute the marginal revenue of the firm for the level of production in (i) above. (5Marks)
(iii) Calculate the profit maximizing production in units. (3Marks)
QUESTION FOUR – 20 MARKS
(a) Explain what is meant by elasticity of supply and discuss the factors that determine the supply of goods in the market. (10Marks) (b) Perfect competition is an ideal market and it does not exist. Discuss. (10Marks)
QUESTION FIVE – 20 MARKS
(a) Criticise the assumptions underlying the indifference curves. (10Marks)
(b) A movie theatre has a fixed cost of shs. 700 and average variable cost (AVC) of shs. 200 per movie show. The firm has two types of clients categorized as general public and students whose demand functions are: 100Pc = 200 – 3QG and 100Ps = 1200 – Qs respectively.
Required:
(i) Calculate the number of tickets to be issued to each segment for profit maximization. (6Marks) (ii) Calculate the total profit made by the theatre. (4Marks)

Hps2103:Accounts And Finace Question Paper

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