10.

Of the following statements which is/are not true in the case of Stackelberg’s model of
Duopoly?

டு The Stackelberg’s model is not applicable in a market in which the firms behave on
Bertrand’s assumption.

(1) If only one firm is sophisticated, market equilibrium will turn out to be unstable.
(11) If both firms are sophisticated, the situation may lead to Stackleberg’s disequilibrium.

(iv) Collusive agreement may take the duopolists to a point off the Edgeworth Contract

Curve.
(A) Only @, तण) യ Only Gi), Gv)
(C) Only (ii), (ii) (D) Only (i), (iii) (iv)

Which of the following is/are True in the case of ‘product exhaustion’ theorems?
6 Euler’s Theorem does no hold good in the cases where production functions exhibit
constant returns to scale.

(1) Euler’s Theorem holds good in cases where the productions functions are linear
homogeneous.

(iii) Clark, Wicksteed and Walras show that for the fulfilment of the postulates of marginal
productivity theory the assumption of homogenous production function is necessary.

(iv) Clark, Wicksteed and Walras argument in the above case is applicable only in the long

run.
(^) Only (@) and (iv) (B) Only (1) ೩೧4 (611)
(C) Only Gi) and (iv) (D) Only (ii) and (iv)

Match list 1 with list 2 and select the correct answer using the codes given below the lists

List 1 List 2
(a) Signalling Equilibrium (1) Hidden Information
(b) Moral Hazard (2) Separating Equilibrium
(c) Adverse Selection (3) Educational Signalling
(त) Sheepskin Effect (4) Hidden Action Problem

©) ¢ © @
(A)
(0)
(0)
(0)

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