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A Gribusiness Production Economics Question Paper
A Gribusiness Production Economics
Course:Bachelor Of Science In Agriculture And Enterprise Management
Institution: Pwani University College question papers
Exam Year:2012
PWANI UNIVERSITY COLLEGE
A CONSTITUENT COLLEGE OF KENYATTA UNIVERSITY
UNIVERSITY EXAMINATIONS 2008/2009 ACADEMIC YEAR
2ND YEAR
1ST SEMESTER EXAMINATION FOR THE DEGREE OF
STREAM: BSC. AGRICULTURE & ENTERPRISE DEVELOPMENT
ABT 201:
A
GRIBUSINESS PRODUCTION ECONOMICS
END SEMESTER:I
TIME: 3 HOURS
INSTRUCTIONS
-
The paper contains seven questions
-
Answer
ALL
the questions in Section
A
and
ANY TWO
in Section
B
-
Marks are indicated in
brackets ( )
SECTION A:
Answer ALL the questions.
Q.1)
a)Given the following data in factor product relationship:
Labour used
Total Physical
Average
Marginal
Per year (units)
Product/year
Product
Product
(Bags of wheat)
0
0
0
1
7
7.0
7
2
2
0
10.0
-
3
31
10.3
-
4
37
9.3
-
5
40
8.0
-
6
39
6.5
-
7
35
5.0
-
i)
Determine the marginal products (
-
) for all the levels of input
application.
(3 mks)
2
ii)
Given that the unit facto
r cost is 5 Kshs, graphically determine the
point of economic optimum
(10 mks)
Q.2)
Given the following production.
Function: Y = X
2
–
1
X
3
30
Determine:
a)
At what level of x does total physical product (TPP) reach maximum
(3
mks)
b)
At what level does the MPP (marginal physical product) reach
maximum.
(3 mks)
c)
At what level does the APP (Average physical product) reach
maximum).
(3 mks)
d)
At what level is APP = MPP?
(3 mks)
Q.3)
Describe the supply and
demand relationship with reference to agricultural
production.
(10 mks)
Q.4)
State five(5) instruments of monetary control.
(5 mks)
SECTION B
:
Answer
ANY TWO
Questions
Q.5)
a)
Distinguish between the following terms:
-
i)
Technical efficienc
y and economic efficiency
(3 mks)
ii)
Diminishing total returns and Diminishing marginal returns
(3 mks)
b)Describe the three types of production models.
(9 mks)
Q.6)Discuss the three approaches applied in measuring national Income
(15
mks)
Q.7)
a)Define the term Isoquant
(1 mk)
b)
Describe the characteristics of Isoquants
(4 mks)
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