Page 29 - DECO401_MICROECONOMIC_THEORY_ENGLISH

Microeconomic Theory

Notes 2.10 Review Questions

1. Describe the Dynamic Equilibrium. Prove that from time to time, we can get equilibrium in our real
life.
2. Describe the equilibrium and with the help of Cobweb Theorem, prove that we can get equilibrium
in some given incidents.
3. Describe the differences between partial and general analysis and give details of general equilibrium.
4. Describe the differences between dynamic and static equilibrium. Give diagram and illustration to
prove your theory.
5. “The equilibrium concept is the key in today’s economical analyses.” Describe it.

Answers: Self Assessment

1. Pure 2. Dynamic 3. Equilibrium
4. (a) 5. (b) 6. (c)
7. (d) 8. (b) 9. True
10. False 11. False 12. True

2.11 Further Readings

1. Microeconomics—Shipra Mukhopadhyay, Annie books, 2011.
2. Microeconomics: An advance treatise—S.P.S Chauhan, PHI Learning.
3. Microeconomics: Behaviour, Institutions and Evolutions— Sampool Bowels, Oxford
University Press, 2004.

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