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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.??
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 ?
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
cb sachdeva microeconomics solutions
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.
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?
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.
if two demand curves intersect which one has the higher price elasticity.
What is the difference between demand and quantity demanded?
Explain law of diminishing marginal utility with the help of utility schedule.
Explain why an indifference curve to the right shows higher utility level.
What is cross elasticity of demand ? Explain it with examples?
Law of Demand is a qualitative statement. Comment.
what are the four basic limitations of utility analysis?
What are giffen goods? Explain with an example...
Why budget line is a straight line ?
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
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