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Explain the conditions of consumer's equilibrium in case of (1) single commodity and (2) two commodities. Use utility approach.
Let Qx=1400/Px,now calculate:-
1.total expd on good x when Px from Rs.6 to Rs 1
2.derive the value of Ed
3.what shape will the demand curve take.?
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 do we mean by the initial utility?
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.
Why slope of Budget line is represented by Price Ratio?
Explain consumers equilibrium through indifference curve analysis?
what are the four basic limitations of utility analysis?
who is a rational consumer
What is market demand function?
what is the meaning of indifference set
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
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.
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 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 ?
What are the differences between Marginal Opportunity Cost and Marginal Rate of Substitution ?
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
A consumer buys 17 units of a good at a price of Rs.10 per unit. When price falls to Rs.8 per unit the consumer buys 23 units. Using the expenditure approach, what will you say about price elasticity of demand of the good?
why do household buy more of a commodity at a lower price?
What is Law of equi marginal utility?
what will be MRS when consumer is in equilibrium
Explain the effect of rise in price of related goods on the demand for good x.use diagram.
why is unitary elastic demand curve rectangular at hyperbola ?
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
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?
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
Distinguish between Substitute goods and Complementary goods.
Possibility of Postponement of Demand- Demand for those commodities whose consumption can be postponed will be price elastic. As against this, those commodities that are urgently required and whose consumption cannot be postponed will have an inelastic demand.
i don't understand this
define law of demand. discuss its assumptions and factors affecting demand
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 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 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 ?
Let price of a commodity X be Rs 10. Marginal utility (in terms of money) for 5units is given as
How many units should a consumer purchase, so that his satisfaction is maximum?
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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