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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.??
Suppose a consumer can buy 5 units of good x and 4 units of good y, if he spends his entire income. the price of good x in Rs.10 n good y is Rs.12. calculate income of the consumer.
difference between budget set and budget line?
what are the four basic limitations of utility analysis?
production possibility curve is concave to the origin. explain with the help of a numerical example.....
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?
Explain why the budget line is downward sloping.
Explain consumers equilibrium through indifference curve analysis?
Why slope of Budget line is represented by Price Ratio?
who is a rational consumer
Explain law of diminishing marginal utility with the help of utility schedule.
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 ?
A good is an inferior good for one and at the same time a normal good for another consumer. Do you agree? Explain.
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 do we mean by the initial utility?
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 ?
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 is Law of demand ? Assumption of law of demand / Explain
why do household buy more of a commodity at a lower price?
What is Law of equi marginal utility?
quantity demanded of a commodity rises by 6 units when its price falls by rs 1 per unit. its price elasticity of demand is -1. if the price before the change was rs 20 per unit calculate quantity demanded at this 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 )
When does a consumer buys less of a commodity at a given price ?
explain the reaction of consumer when 1. price ratio is higher than MRS 2. price ration is lower than MRS
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.
(a). Define slope of total utility curve.
(b). Explain law of diminishing marginal rate of substitution with help of table and diagram.
What is the difference between demand and quantity demanded?
if two demand curves intersect which one has the higher price elasticity.
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
Explain why an indifference curve to the right shows higher utility level.
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 will be MRS when consumer is in equilibrium
What is cross elasticity of demand ? Explain it with examples?
Give the situation in which the determinants of budget line change but the budget line does not change.
Law of Demand is a qualitative statement. Comment.
What are giffen goods? Explain with an example...
law of diminishing marginal utility??
Why budget line is a straight line ?
Explain Consumer Equilibrium with the help of IC Curve?
why is MU, said to be the slope of TU ?????
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
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