About This Solved Paper
| Prepared by | Unnati Education, IGNOU-experienced academic content team |
|---|---|
| Qualification | Graduate with specialisation in Economics |
| Programme | IGNOU Bachelor of Arts Economics Major (BAFEC) under the Four-Year Undergraduate Programme (FYUP) |
| Institution Reference | IGNOU Term-End Examination December 2025 |
If you are an IGNOU BAFEC student preparing for BECC-115, this page has everything you need. The BECC 115 Question Paper December 2025 covers Cournot duopoly models, production functions, externalities, Coase theorem, welfare economics, game theory, and intertemporal consumer choice. Questions test both mathematical derivations and theoretical understanding. At Unnati Education, we have prepared a complete solved version to help you approach every section with confidence.
What is BECC 115 December 2025 Question Paper?
The BECC-115 December 2025 question paper is the official IGNOU term-end exam for Intermediate Microeconomics, carrying 100 marks with numerical and theory questions completed over three hours.
This paper belongs to the BAFEC programme. It assesses students on market structures, production theory, consumer behaviour, welfare economics, and game theory. The December 2025 edition is one of the more numerically demanding papers in the programme. Students who understand both the theory and the mathematical steps will find it manageable with the right preparation.
About IGNOU BECC-115 Intermediate Microeconomics
BECC-115 is a core course in the IGNOU BAFEC programme. It builds on introductory microeconomics and moves students into more technical territory. Core topics include Cournot duopoly and reaction functions, short-run and long-run production analysis, Cobb-Douglas functions, and externalities.
The course also covers welfare economics, Coase theorem, asymmetric information, game theory, consumer surplus, and intertemporal choice. Knowing the mathematical steps for each topic is just as important as understanding the underlying theory. The BECC-115 December 2025 paper reflects the full breadth of this syllabus.
BECC 115 December 2025 Question Paper Exam Pattern and Marks Breakdown
The BECC-115 December 2025 question paper follows a three-section structure. Together the sections add up to 100 marks, with a time limit of three hours.
Section A carries 40 marks. Students must attempt any two out of four questions. Each question is worth 20 marks and requires detailed numerical or theoretical analysis.
Section B carries 48 marks. Students attempt any four out of six questions, each worth 12 marks. These cover a broad range of microeconomics topics in a medium-length format.
Section C carries 12 marks. Both questions are compulsory. Each is worth 6 marks, with 3 marks per item for short notes or differentiations.
All Questions BECC 115 Question Paper December 2025 IGNOU Complete List
Section A
Note: Answer any two questions from this Section. 2 x 20 = 40
In a Cournot duopoly, two firms produce output Q1 and Q2, respectively. The market demand function is: P = 200 - Q where Q = Q1 + Q2 and the total cost for each firm is TC = 20Q.
(a) Derive the reaction function of firm 1 and firm 2. 12 (b) Find the Cournot-Nash equilibrium output for each firm. 4 (c) Calculate the equilibrium market price and the total profit of the industry. 4
(a) Distinguish between short-run and long-run production functions. Illustrate how the law of variable proportions operates in the short-run. 8 (b) Given the following Cobb-Douglas production function: Q = 2K0.4 L0.6 where Q is the output, K is capital and L is labour input.
(i) Determine the returns to scale for this production function. 2 (ii) Calculate the output elasticities of labour and capital. 6 (iii) Derive the marginal rate of technical substitution. 4
(a) Explain how the divergence between marginal private cost and marginal social cost lead to market inefficiency. Illustrate. 10 (b) Discuss the role of Coase theorem in correcting externalities. What are its limitations? 10
(a) An individual earns Rs. 100 in period 1 and Rs. 150 in period 2. The rate of interest is 20%. Write down the intertemporal budget line and calculate the intercepts on both axes. Draw the budget line showing the endowment point. 10 (b) Suppose the rate of interest falls to 10%. Draw the new budget line. If the individual was initially a lender, discuss whether his welfare improves or declines after the fall in interest rate. 10
Section B
Note: Answer any four questions from this Section. 4 x 12 = 48
What is asymmetrical information? How does asymmetrical information lead to market failure? 12
Find the optimal consumption bundle in case of quantity tax and an equivalent income tax. In which of the two tax regimes is the consumer better off? 12
A firm faces the following demand curve and total cost function: P = 200 - 2Q TC = 500 + Q2. Calculate the profit maximizing output and price if the firm operates in a perfectly competitive market. 12
What do you understand by the term 'Consumer Surplus'? Explain with diagram, how it is calculated. 12
What is social welfare function? Explain its importance in Welfare Economics. 12
Consider the following normal game form in which Player 1 and Player 2 each have two strategies:
Player 2 / Player 1: X or Y
X: (3,7) and (8,4)
Y: (6,5) and (4,8)
(a) Find the Nash equilibrium of the game. 6 (b) Write the extensive form of the game assuming Player 1 moves first. 6
Section C
Note: Answer both questions from this Section. Each question carries 6 marks. 2 x 6 = 12
Write short notes on any two of the following: 2 x 3 = 6 (a) Value Judgements (b) Homogeneous Production Function (c) Quasi-Linear Preferences
Differentiate between any two of the following: 2 x 3 = 6 (a) Weakly Preferred and Strongly Preferred Set (b) Monopoly and Monopolistic Competition (c) Signaling and Screening
BECC 115 Syllabus Topics Covered
The December 2025 paper draws from every major unit of BECC-115. Game theory is tested through Cournot duopoly and Nash equilibrium. Production theory covers Cobb-Douglas derivations, returns to scale, and the law of variable proportions.
Welfare economics runs through externalities, Coase theorem, social welfare function, and market failure caused by asymmetric information. Consumer theory covers intertemporal budget lines, consumer surplus, and preference analysis. Market structures feature in both long-form and short-note questions, making cross-topic preparation necessary.
Sample Answer Preview BECC 115 Intermediate Microeconomics Solved Question Paper
Here is how Question 1 from Section A should be approached. Firm 1 maximises profit written as: Profit = (200 - Q1 - Q2) x Q1 - 20Q1. Expanding gives 180Q1 - Q1 squared - Q1Q2. Differentiating with respect to Q1 and setting the result to zero gives 180 - 2Q1 - Q2 = 0. Firm 1's reaction function is therefore Q1 = (180 - Q2) / 2.
By symmetry, Q2 = (180 - Q1) / 2. Solving simultaneously gives Q1 = Q2 = 60. Market price = 200 - 120 = 80. Each firm earns profit of 60 x (80 - 20) = 3600. Total industry profit = 7200.
That is the level of detail you get in the BECC-115 solved question paper from Unnati Education. Every step is written out and logically connected. Get the BECC-115 solved question paper to see the same treatment applied to every question in the paper.
How to Write High-Scoring Answers in BECC 115 Question Paper
Start numerical questions by stating the given values and the formula you plan to use. Examiners reward structured working. Even when the next step feels obvious, write it out fully.
For theory answers, open with a precise definition, develop the argument with two or three well-explained points, and close with a diagram wherever the question invites one. In Section B, aim for roughly one full page per answer and use sub-headings when a question has multiple parts. For Section C, three marks means three accurate and specific points with no padding.
Who Should Use This BECC-115 Solved Question Paper December 2025?
This solved paper is designed for IGNOU BAFEC students sitting the BECC-115 December 2025 term-end exam. Students who are repeating the paper or covering a missed term will also find it directly useful.
It works particularly well for anyone who finds microeconomics numericals difficult. Seeing complete derivations, laid out step by step the way IGNOU expects, clarifies both what to write and how to structure your working in the exam hall.
Why This is Better Than Free BECC-115 December 2025 Question Paper PDFs and Telegram Files
Free sources give you the question. They rarely give a properly structured, exam-ready answer. Many Telegram files contain short responses that would score poorly under IGNOU's marking scheme, and some contain calculation errors that can actively mislead you.
The IGNOU BECC-115 question paper solved version from Unnati Education is prepared with IGNOU's actual marking standards in mind. Diagrams, formulas, and step-by-step derivations are all included. It gives you a working model to follow for each question type, not just a list of answers to copy.
Student Reviews BECC-115 Solved Question Paper by Unnati Education
"The BECC-115 solved paper from Unnati Education made the Cournot derivation completely clear. Every step was visible and I could reproduce it confidently in the exam." — Priya Singh, BAFEC student
"I kept getting stuck on the intertemporal budget question until I saw the solved version. It finally broke the problem down in a way that actually made sense to me." — Rahul Mehta, IGNOU Delhi
"I used the BECC-115 December 2025 solved paper two days before my exam. Understanding how answers were expected to be structured made a real difference to how I wrote." — Anjali Verma, IGNOU student
How to Get the BECC-115 Solved Question Paper December 2025 Step by Step
The process is straightforward and takes just a few minutes. First, contact Unnati Education on WhatsApp using the number on this page. Second, share your programme name and confirm you need the BECC-115 solved question paper for December 2025. Third, receive the solved paper digitally and start preparing the same day. No office visit required.
Frequently Asked Questions
What is BECC-115?
BECC-115 is the Intermediate Microeconomics paper in the IGNOU BAFEC programme, offered under the Four-Year Undergraduate Programme in Economics. It covers market structures, production theory, game theory, externalities, welfare economics, and consumer behaviour. Assessment is through a 100-mark term-end examination. It is one of the more technically demanding papers in the programme and requires consistent mathematical practice alongside conceptual study to score well.
What is the exam pattern for BECC-115 December 2025?
The December 2025 paper has three sections adding up to 100 marks. Section A carries 40 marks where students attempt any two out of four questions worth 20 marks each. Section B carries 48 marks where students attempt any four out of six questions at 12 marks each. Section C carries 12 marks and both questions are compulsory at 6 marks each. Total duration is 3 hours.
What are the most important topics in BECC-115 for December 2025?
Based on the December 2025 paper, the most important topics are Cournot duopoly and reaction functions, Cobb-Douglas production function derivations, Coase theorem and its limitations, intertemporal budget line analysis, asymmetric information and market failure, consumer surplus with diagrams, social welfare function, Nash equilibrium in game theory, and distinctions between market structures. Both numerical derivation and theoretical analysis are equally important for a strong score.
How can I access the IGNOU BECC-115 solved question paper?
You can contact Unnati Education on WhatsApp using the number listed on this page. Share your course code and mention the December 2025 examination session. The BECC-115 solved question paper will be sent to you digitally, usually the same day you enquire. There is no need to visit us in person and no lengthy registration process involved.
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Explore More IGNOU BECC-115 Solved Papers and Study Material
You may also want the IGNOU BECC-115 solved assignment for the current academic year, available on our website. Previous year question papers from earlier BECC-115 terms are listed there as well.
For broader preparation, browse our full BAFEC programme collection. Solved papers and notes for BECC-101, BECC-107, BECC-110, and other core economics courses are available. Guess papers and chapter-wise preparation notes are offered for most subjects in the programme.
Get Your BECC 115 Question Paper December 2025 Solved Paper Now
The numerical sections of BECC-115 are where most students lose marks. Practising full derivations, presented the way IGNOU expects, gives you a clear edge in the exam hall.
Contact Unnati Education on WhatsApp or Telegram today. The BECC-115 solved paper is ready. Share your course code, confirm the December 2025 session, and receive your material the same day.