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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.??
what are the four basic limitations of utility analysis?
difference between budget set and budget line?
explain the reaction of consumer when 1. price ratio is higher than MRS 2. price ration is lower than MRS
who is a rational consumer
production possibility curve is concave to the origin. explain with the help of a numerical example.....
Explain why the budget line is downward sloping.
what is the meaning of indifference set
Explain consumers equilibrium through indifference curve analysis?
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 ?
1 explain the conditions of consumer equilibrium with the help of marginal utility analysis?
2 explain cardinal and ordinal approach or concepts of utility with examples?
Given the market price of a good,how does a consumer decide as to how many units of that goods to buy? Explain
What is the relation between TU, MU and AU ?
pls can u explain me budget set with the help of n easy example or a diagram pls explain me this concept in an easy manner??????
Suppose there are two consumers in the market for a good and their demand functions are as follows:
d1(p) = 20 − p for any price less than or equal to 20 and d1(p) = 0 at any price greater than 20.
d2(p) = 30 − 2p for any price less than or equal to 15 and d1(p) = 0 at any price greater than 15.
Find out the market demand function.
cb sachdeva microeconomics solutions
what will happen if marginal rate of substitution is not equal to slope of price line ie. MRS is not equal to Px/Py ?
explain both the possibilities ?
Why slope of Budget line is represented by Price Ratio?
A good is an inferior good for one and at the same time a normal good for another consumer. Do you agree? Explain.
when is budget line called price line?
what is Law of demand ? Assumption of law of demand / Explain
what do we mean by the initial utility?
What is Law of equi marginal utility?
why marginal utility of money is constant in utility analysis?
difference between law of DMU law of Equi marginal utility? 6 points [6 marks]
why do household buy more of a commodity at a lower price?
Explain the effect of rise in price of related goods on the demand for good x.use diagram.
difference between ordinal and cardinal measurement of utility ( 4 marks )
THE DEMAND FOR DOUBLES DUE TO 25% FALL IN PRICE.CALCULATE ITS PRICE ELASTICITY OF DEMAND. PLZZZ ANSWER AS SOON AS POSSIBLE.
When does a consumer buys less of a commodity at a given price ?
explain the meaning of consumers equilibrium with help of the table and diagram?
Why budget line is a straight line ?
Distinguish between Substitute goods and Complementary goods.
define law of demand. discuss its assumptions and factors affecting demand
differentiate between contraction in demand and decrease in demand ?
Explain law of diminishing marginal utility with the help of utility schedule.
How is PPC affected by unemployment in the economy? Exaplain.
if two demand curves intersect which one has the higher price elasticity.
What is the difference between demand and quantity demanded?
why does law of demand operate?
Explain why an indifference curve to the right shows higher utility level.
A consumer buys 100 units of a good-y at rs5 per unit. The price elasticity of demand is good 2. At what price will he be willing to buy 140 units of a good-y?
What is cross elasticity of demand ? Explain it with examples?
What are giffen goods? Explain with an example...
The price elasticity of demand of Good X is half the price elasticity of demand of Good Y. A 25% rise in price of good Y reduces its demand from 400 to 300 units. Calculate percentage change in demand of Good X when its price falls from Rs 10 to Rs 8 per unit
Law of Demand is a qualitative statement. Comment.
Explain Consumer Equilibrium with the help of IC Curve?
I asked this question related to inferior good ,
https://www.meritnation.com/ask-answer/question/show-the-demand-curve-of-an-inferior-good-does-the-quan/theory-of-consumer-behaviour/4442875
Expert said that inferior is not an exception oflaw of demand , but everywhere on the Internet and in my economics book it's the first exception .
It says that increase in the price of an inferior good increases the demand for that good
What is right ?
Q.A consumer consumes only 2 goods X and Y and is in equilibrium.Price of X rises.explain the reaction of the consumer with the help of utility analysis.wat is the answer for this question
What is the relationship between the slope and elasticity of a demand curve?
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Syllabus
Explain the conditions of consumer's equilibrium in case of (1) single commodity and (2) two commodities. Use utility approach.
I got a project in economics Demand and its Determinants
What should I do .
And which product should i choose for the project as i have to show it in the graph .
Pls give some interesting options ............
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.??
what are the four basic limitations of utility analysis?
difference between budget set and budget line?
explain the reaction of consumer when 1. price ratio is higher than MRS 2. price ration is lower than MRS
who is a rational consumer
production possibility curve is concave to the origin. explain with the help of a numerical example.....
Explain why the budget line is downward sloping.
what is the meaning of indifference set
scarcity refers to a situation when demand exceeds its supply even at zero price .
Explain consumers equilibrium through indifference curve analysis?
What is market demand function?
his/her health and property, there is a provision for compensating him/her. Besides, this Act has also some expectations from the consumers. That during the course of his/her purchases he/she should keep certain things in mind. Briefly, provisions of the Act can protect the consumer only when he/she has complied with certain fundamental things.
The very next day of this lesson, Surekha purchased an ISI marked Heater from Bharti Appliances. She made cash payment. But failed to get Cash Memo. While making use of the heater she observed that it was not working properly. She contacted the shopkeeper immediately and told him her problem. Shopkeeper paid no heed to her complaint. Rather he remarked that the good in question was not bought from his shop.
(i) Identify and explain the right and responsibility of the consumer as referred to in the above paragraph.
(ii) In a addition to the right and responsibility of the consumer identified in point (i) write one more right and one responsibility.
(iii) Can Surekha lodge a complaint against the shopkeeper?
what is the difference between utility and usefulness?????
Indifference Set
It is a set of those combination of two goods which offer the consumer the same level of satisfaction, so that, the consumer is indifferent across any number of combination in his indifference set.
Monotonic Preferences
Monotonic preferences refers to a situation where the consumer will prefer more quantity of commodities than lesser quantity.
Indifference Map
It refers to a set of indifference curves corresponding to different income levels of the consumer.
In an indifference map, indifference curves are parallel and a higher indifference curve represents a higher level of satisfaction.
Consumer's Budget
It is the real purchasing power of consumer from which he can purchase certain quantitative bundles of two goods at a given price.
how many ice creams will a consumer have if ice cream is available free of cost ?
1 explain the conditions of consumer equilibrium with the help of marginal utility analysis?
rn2 explain cardinal and ordinal approach or concepts of utility with examples?
Given the market price of a good,how does a consumer decide as to how many units of that goods to buy? Explain
What is the relation between TU, MU and AU ?
pls can u explain me budget set with the help of n easy example or a diagram pls explain me this concept in an easy manner??????
Suppose there are two consumers in the market for a good and their demand functions are as follows:
d1(p) = 20 − p for any price less than or equal to 20 and d1(p) = 0 at any price greater than 20.
d2(p) = 30 − 2p for any price less than or equal to 15 and d1(p) = 0 at any price greater than 15.
Find out the market demand function.
cb sachdeva microeconomics solutions
Solution : The maximum contribution may come from the charge 8q forming pairs with others. To reduce its effect, it should be placed at a corner and the smallest charge q in the middle.
what will happen if marginal rate of substitution is not equal to slope of price line ie. MRS is not equal to Px/Py ?
explain both the possibilities ?
Why slope of Budget line is represented by Price Ratio?
A good is an inferior good for one and at the same time a normal good for another consumer. Do you agree? Explain.
when is budget line called price line?
what is Law of demand ? Assumption of law of demand / Explain
what do we mean by the initial utility?
What is Law of equi marginal utility?
why marginal utility of money is constant in utility analysis?
difference between law of DMU law of Equi marginal utility? 6 points [6 marks]
why do household buy more of a commodity at a lower price?
Explain the effect of rise in price of related goods on the demand for good x.use diagram.
difference between ordinal and cardinal measurement of utility ( 4 marks )
THE DEMAND FOR DOUBLES DUE TO 25% FALL IN PRICE.CALCULATE ITS PRICE ELASTICITY OF DEMAND. PLZZZ ANSWER AS SOON AS POSSIBLE.
When does a consumer buys less of a commodity at a given price ?
explain the meaning of consumers equilibrium with help of the table and diagram?
Why budget line is a straight line ?
Distinguish between Substitute goods and Complementary goods.
define law of demand. discuss its assumptions and factors affecting demand
differentiate between contraction in demand and decrease in demand ?
Explain law of diminishing marginal utility with the help of utility schedule.
How is PPC affected by unemployment in the economy? Exaplain.
a. Less elastic
B. More elastic
C. Perfectly elastic
D. Unitary elastic
And why
if two demand curves intersect which one has the higher price elasticity.
What is the difference between demand and quantity demanded?
why does law of demand operate?
Explain why an indifference curve to the right shows higher utility level.
A consumer buys 100 units of a good-y at rs5 per unit. The price elasticity of demand is good 2. At what price will he be willing to buy 140 units of a good-y?
What is cross elasticity of demand ? Explain it with examples?
What are giffen goods? Explain with an example...
The price elasticity of demand of Good X is half the price elasticity of demand of Good Y. A 25% rise in price of good Y reduces its demand from 400 to 300 units. Calculate percentage change in demand of Good X when its price falls from Rs 10 to Rs 8 per unit
Law of Demand is a qualitative statement. Comment.
Explain Consumer Equilibrium with the help of IC Curve?
I asked this question related to inferior good ,
https://www.meritnation.com/ask-answer/question/show-the-demand-curve-of-an-inferior-good-does-the-quan/theory-of-consumer-behaviour/4442875
Expert said that inferior is not an exception oflaw of demand , but everywhere on the Internet and in my economics book it's the first exception .
It says that increase in the price of an inferior good increases the demand for that good
What is right ?
Q.A consumer consumes only 2 goods X and Y and is in equilibrium.Price of X rises.explain the reaction of the consumer with the help of utility analysis.wat is the answer for this question
What is the relationship between the slope and elasticity of a demand curve?