Explain the conditions of consumer's equilibrium in case of (1) single commodity and (2) two commodities. Use utility approach.
A consumer consumes only two goods X and Y and is in equilibrium.,price of X falls..Explain the reaction of the consumer through utility analysis.??
difference between budget set and budget line?
production possibility curve is concave to the origin. explain with the help of a numerical example.....
Explain why the budget line is downward sloping.
Explain consumers equilibrium through indifference curve analysis?
who is a rational consumer
What is market demand function?
what is the difference between utility and usefulness?????
how many ice creams will a consumer have if ice cream is available free of cost ?
Explain the conditions of consumer's equilibrium in case of (1) single commodity and (2) two commodities. Use utility approach.
A consumer consumes only two goods X and Y and is in equilibrium.,price of X falls..Explain the reaction of the consumer through utility analysis.??
difference between budget set and budget line?
production possibility curve is concave to the origin. explain with the help of a numerical example.....
Explain why the budget line is downward sloping.
scarcity refers to a situation when demand exceeds its supply even at zero price .
Explain consumers equilibrium through indifference curve analysis?
who is a rational consumer
What is market demand function?
what is the difference between utility and usefulness?????
how many ice creams will a consumer have if ice cream is available free of cost ?