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Explain the conditions of consumer's equilibrium in case of (1) single commodity and (2) two commodities. Use utility approach.
who is a rational consumer
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?
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.....
Explain why the budget line is downward sloping.
Explain consumers equilibrium through indifference curve analysis?
Why budget line is a straight line ?
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 ?
what is the meaning of indifference set
explain the reaction of consumer when 1. price ratio is higher than MRS 2. price ration is lower than MRS
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 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
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
A good is an inferior good for one and at the same time a normal good for another consumer. Do you agree? Explain.
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 ?
Explain law of diminishing marginal utility with the help of utility schedule.
what is Law of demand ? Assumption of law of demand / Explain
Explain the effect of rise in price of related goods on the demand for good x.use diagram.
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 )
When does a consumer buys less of a commodity at a given price ?
the demand fxn of good-x is Qx = 20-2px... Calculate PeD of demand when price falls from 5 to 3 ??
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.
THE DEMAND FOR DOUBLES DUE TO 25% FALL IN PRICE.CALCULATE ITS PRICE ELASTICITY OF DEMAND. PLZZZ ANSWER AS SOON AS POSSIBLE.
What is the difference between demand and quantity demanded?
Explain why an indifference curve to the right shows higher utility level.
define elasticity of demand
What is cross elasticity of demand ? Explain it with examples?
What are giffen goods? Explain with an example...
Law of Demand is a qualitative statement. Comment.
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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