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Explain the conditions of consumer's equilibrium in case of (1) single commodity and (2) two commodities. Use utility approach.
explain the reaction of consumer when 1. price ratio is higher than MRS 2. price ration is lower than MRS
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?
who is a rational consumer
explain the meaning of consumers equilibrium with help of the table and diagram?
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?
What is market demand function?
The quantity demanded of a commodity falls by 5 units when price rises by Rs 1 per unit. Its elasticity of demand is (-) 1.5 . Calculate the price before change if this price quantity demanded was 60 units.
what are the four basic limitations of utility analysis?
what is the difference between utility and usefulness?????
how many ice creams will a consumer have if ice cream is available free of cost ?
A consumer consumes goods x. explain the effects of fall in prices of related gods on the demand for x. use diagram showing demand for good x on the x axis and its price on the y axis.
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?
THE DEMAND FOR DOUBLES DUE TO 25% FALL IN PRICE.CALCULATE ITS PRICE ELASTICITY OF DEMAND. PLZZZ ANSWER AS SOON AS POSSIBLE.
Given the market price of a good,how does a consumer decide as to how many units of that goods to buy? Explain
starting from an initial situation of consumers equilibrium ,suppose the marginal utility of rupee increases , will it increase or decrease the quantity demanded of the product ?
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??????
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 ?
A good is an inferior good for one and at the same time a normal good for another consumer. Do you agree? Explain.
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.
what is Law of demand ? Assumption of law of demand / Explain
cb sachdeva microeconomics solutions
What is Law of equi marginal utility?
Explain law of diminishing marginal utility with the help of utility schedule.
difference between ordinal and cardinal measurement of utility ( 4 marks )
how is the equilibrium of consumer affected when MUm happens to rise and Px is constant?
When does a consumer buys less of a commodity at a given price ?
Explain the effect of rise in price of related goods on the demand for good x.use diagram.
why do household buy more of a commodity at a lower price?
Distinguish between Substitute goods and Complementary goods.
define law of demand. discuss its assumptions and factors affecting demand
What does a point below the budget line indicate?
Price elasticity of demand for a commodity is unity and a household demands 50 units of it when its price is Rs 2 per unit. At what price will the household demands 45 units of the commodity?
How is PPC affected by unemployment in the economy? Exaplain.
What is the difference between demand and quantity demanded?
if two demand curves intersect which one has the higher price elasticity.
Explain why an indifference curve to the right shows higher utility level.
difference between law of DMU law of Equi marginal utility? 6 points [6 marks]
What is cross elasticity of demand ? Explain it with examples?
What happens to the budget set if the prices as well as the income double?
what is the meaning of indifference set
What are giffen goods? Explain with an example...
Law of Demand is a qualitative statement. Comment.
(a). Define slope of total utility curve.
(b). Explain law of diminishing marginal rate of substitution with help of table and diagram.
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
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 ?
Explain Consumer Equilibrium with the help of IC Curve?
what do we mean by the initial utility?
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
Why budget line is a straight line ?
Explain expenditure method to find price elasticity of demand ?
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.
explain the reaction of consumer when 1. price ratio is higher than MRS 2. price ration is lower than MRS
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?
who is a rational consumer
explain the meaning of consumers equilibrium with help of the table and diagram?
production possibility curve is concave to the origin. explain with the help of a numerical example.....
scarcity refers to a situation when demand exceeds its supply even at zero price .
Explain why the budget line is downward sloping.
Explain consumers equilibrium through indifference curve analysis?
What is market demand function?
The quantity demanded of a commodity falls by 5 units when price rises by Rs 1 per unit. Its elasticity of demand is (-) 1.5 . Calculate the price before change if this price quantity demanded was 60 units.
what are the four basic limitations of utility analysis?
what is the difference between utility and usefulness?????
how many ice creams will a consumer have if ice cream is available free of cost ?
A consumer consumes goods x. explain the effects of fall in prices of related gods on the demand for x. use diagram showing demand for good x on the x axis and its price on the y axis.
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?
THE DEMAND FOR DOUBLES DUE TO 25% FALL IN PRICE.CALCULATE ITS PRICE ELASTICITY OF DEMAND. PLZZZ ANSWER AS SOON AS POSSIBLE.
Given the market price of a good,how does a consumer decide as to how many units of that goods to buy? Explain
starting from an initial situation of consumers equilibrium ,suppose the marginal utility of rupee increases , will it increase or decrease the quantity demanded of the product ?
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??????
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 ?
A good is an inferior good for one and at the same time a normal good for another consumer. Do you agree? Explain.
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.
what is Law of demand ? Assumption of law of demand / Explain
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 is Law of equi marginal utility?
Explain law of diminishing marginal utility with the help of utility schedule.
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?
difference between ordinal and cardinal measurement of utility ( 4 marks )
2...suppose there three bundles containing good 1 and good 2:bundle (10,10);bundle(10,9)and bundle(7,10).which bundle will be preferred by the consumer , if he has monotonic upreferences?
PLZ PLZ GIVE ANSWER TODAY PLZ TOMORROW EXAM PLZZZZZ
how is the equilibrium of consumer affected when MUm happens to rise and Px is constant?
MU Schedule :-
Unit MUx MUy
1 88 40
2 72 36
3 64 24
4 56 20
5 48 16
6 40 12
7 32 08
8 24 04
9 16 00
10 08 00
When does a consumer buys less of a commodity at a given price ?
Explain the effect of rise in price of related goods on the demand for good x.use diagram.
why do household buy more of a commodity at a lower price?
MUX by PX is equal to MUM when ''X'' happen to be a domestic fuel LPG and PX is lowered by the way os subsidy by the government.
Distinguish between Substitute goods and Complementary goods.
define law of demand. discuss its assumptions and factors affecting demand
What does a point below the budget line indicate?
Price elasticity of demand for a commodity is unity and a household demands 50 units of it when its price is Rs 2 per unit. At what price will the household demands 45 units of the commodity?
How is PPC affected by unemployment in the economy? Exaplain.
The price of good x falls by five percent while that of good y rises by five percent
Wat s percentage change in quantities of x and y??
What is the difference between demand and quantity demanded?
if two demand curves intersect which one has the higher price elasticity.
Explain why an indifference curve to the right shows higher utility level.
difference between law of DMU law of Equi marginal utility? 6 points [6 marks]
What is cross elasticity of demand ? Explain it with examples?
What happens to the budget set if the prices as well as the income double?
what is the meaning of indifference set
What are giffen goods? Explain with an example...
Law of Demand is a qualitative statement. Comment.
(a). Define slope of total utility curve.
(b). Explain law of diminishing marginal rate of substitution with help of table and diagram.
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
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 ?
Explain Consumer Equilibrium with the help of IC Curve?
what do we mean by the initial utility?
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
Why budget line is a straight line ?
Explain expenditure method to find price elasticity of demand ?
What is the relationship between the slope and elasticity of a demand curve?