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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.??
Explain why the budget line is downward sloping.
difference between budget set and budget line?
who is a rational consumer
differentiate between contraction in demand and decrease in demand ?
production possibility curve is concave to the origin. explain with the help of a numerical example.....
Explain consumers equilibrium through indifference curve analysis?
what are the four basic limitations of utility analysis?
What is market demand function?
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?
what is the difference between utility and usefulness?????
explain the reaction of consumer when 1. price ratio is higher than MRS 2. price ration is lower than MRS
how many ice creams will a consumer have if ice cream is available free of cost ?
Explain law of diminishing marginal utility with the help of utility schedule.
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 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.
Given the market price of a good,how does a consumer decide as to how many units of that goods to buy? Explain
THE DEMAND FOR DOUBLES DUE TO 25% FALL IN PRICE.CALCULATE ITS PRICE ELASTICITY OF DEMAND. PLZZZ ANSWER AS SOON AS POSSIBLE.
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 ?
cb sachdeva microeconomics solutions
A good is an inferior good for one and at the same time a normal good for another consumer. Do you agree? Explain.
what is Law of demand ? Assumption of law of demand / Explain
What is Law of equi marginal utility?
why do household buy more of a commodity at a lower price?
difference between ordinal and cardinal measurement of utility ( 4 marks )
there are two consumers in the market for a good and their demand
functions are as follows:
= 20 − p
for any price less than or equal to 20 and d1(p)
= 0 at any price greater than 20.
= 30 − 2p
for any price less than or equal to 15 and d1(p)
= 0 at any price greater than 15.
out the market demand function.
Explain the effect of rise in price of related goods on the demand for good x.use diagram.
When does a consumer buys less of a commodity at a given price ?
what is the meaning of indifference set
Distinguish between Substitute goods and Complementary goods.
define law of demand. discuss its assumptions and factors affecting demand
How is PPC affected by unemployment in the economy? Exaplain.
difference between law of DMU law of Equi marginal utility? 6 points [6 marks]
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.
Give the situation in which the determinants of budget line change but the budget line does not change.
What is cross elasticity of demand ? Explain it with examples?
how is market demand curve derived from individual demand curves?
What are giffen goods? Explain with an example...
Law of Demand is a qualitative statement. Comment.
What is the effect of simultaneous and same percentage change in the prices of both the goods on the budget line? Use diagram
Explain Consumer Equilibrium with the help of IC Curve?
I asked this question related to inferior good ,
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
Why budget line is a straight line ?
What is the relationship between the slope and elasticity of a demand curve?
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