Micro Economics & Macro Economics April 2026 Solved Assignments
Description
Micro Economics & Macro Economics | Applicable for April 2026 Examination
Q1. A metropolitan city is planning to introduce a congestion pricing policy to reduce traffic, pollution, and fuel consumption. However, the policymakers are facing uncertainty regarding its economic impact, public acceptance, and long-term effectiveness. Since reliable historical data is limited and expert opinions vary widely, the government decides to seek inputs from a panel of experts including urban planners, economists, environmental scientists, transport authorities, and sociologists. The goal is to arrive at a well-reasoned consensus without allowing dominant individuals to influence others.
To achieve this, the policymakers adopt a structured forecasting and decision-making method that involves multiple rounds of anonymous expert consultations, controlled feedback, and gradual convergence of opinions. As a management student, explain how the Delphi Technique can be applied in this situation. Discuss the steps involved in the Delphi Technique and evaluate its usefulness in improving the quality of decision-making in complex and uncertain policy environments. (10 Marks)
Ans 1.
Introduction
Urban policymakers are increasingly confronted with intricate decisions characterised by uncertain outcomes, limited data availability, and diverse stakeholder perspectives. The proposed congestion pricing policy within a metropolitan area serves as a pertinent illustration of this predicament, encompassing economic, environmental, social, and behavioural facets. Conventional decision-making methodologies may prove insufficient, given the potential for bias, the influence of powerful individuals, and the absence of dependable historical data. Consequently, a structured and systematic approach to leveraging expert judgement becomes crucial. The Delphi Technique
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Q2. A garment manufacturing company in India produces cotton shirts for both domestic and export markets. Recently, the firm has experienced a rise in raw material prices due to higher cotton procurement costs, an increase in electricity tariffs, and new labour regulations that have raised wage expenses. At the same time, the government has announced tax incentives for exporters, while advancements in automated stitching technology have become available at affordable rates. These changes have created uncertainty regarding the firm’s ability and willingness to supply shirts in the market.
As a business economics student, analyze the above situation by identifying the factors affecting the supply of cotton shirts. Explain how changes in factors influence the supply decision of the firm. Support your answer with appropriate economic reasoning. (10 Marks)
Ans 2.
Introduction
In the realm of business economics, the availability of a product is contingent not solely upon its prevailing market price; rather, it is also shaped by a constellation of fundamental elements that exert influence over a firm’s cost structure, profitability, and operational choices. The Indian garment manufacturing sector provides a pertinent example, demonstrating how fluctuations in input costs, governmental regulations, technological advancements, and prevailing regulatory frameworks can engender ambiguity in supply-related determinations. Specifically, escalating cotton prices, augmented electricity tariffs, and surging wage expenses typically serve to restrict supply, whereas
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Q3(A). In the industrial town of Riverdale, several chemical manufacturing units discharge untreated waste into a nearby river to minimise production costs. While the firms benefit from lower expenses, local residents face severe health issues, water contamination, and loss of agricultural productivity. These social costs are not reflected in the market price of the chemicals, leading to overproduction and environmental degradation.
Simultaneously, Riverdale’s health insurance market is facing instability. Insurance companies often lack complete information about the health status of individuals, whereas consumers are typically well aware of their own medical conditions. As a result, people with higher health risks are more likely to purchase insurance, while healthier individuals tend to withdraw from the market. This has caused rising premiums and reduced insurance coverage availability.
Analyze the above situation to identify the presence of market failure. Explain the reasons for market failure highlighted in the scenario with reference to externalities, asymmetric information, and adverse selection. (5 Marks)
Ans 3a.
Introduction
Market failure arises when the free market’s self-regulating nature fails to distribute resources efficiently, thereby diminishing social welfare. The Riverdale case study provides a clear example of two primary types of market failure, stemming from environmental and informational deficiencies. The release of unprocessed chemical waste generates substantial social costs for the local populace, which are not reflected in market prices, thereby causing environmental harm and overproduction. Simultaneously, the volatility within the health insurance market exemplifies an informational imbalance between consumers and providers. These circumstances, taken together,
Q3(B). In the small hill town of Arunpur, only one company, AquaPure Ltd., supplies drinking water through a pipeline network laid across the town decades ago. Due to high infrastructure costs, government permissions, and ownership of the only water source in the region, no other firm has been able to enter the market. AquaPure Ltd. decides the price of water without consulting consumers and often charges higher prices during the summer months when demand increases. Consumers have no close substitute for piped drinking water and must depend entirely on this single supplier. Based on the above scenario, identify the type of market structure. Analyse the situation and explain its characteristics that are evident in the case. (5 Marks)
Ans 3b.
Introduction
The market dynamics in Arunpur exemplify a typical market structure characterised by a single entity’s dominance over the provision of a crucial commodity. When a solitary producer holds exclusive control over production, encounters no rival firms, and consumers possess no readily available alternatives, the firm accrues substantial market power. Consequently, in these markets, price determination is not subject to competitive influences but is dictated by the decisions of the singular supplier. The situation of AquaPure Ltd., which manages both the water supply infrastructure and pricing within Arunpur,
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