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Explain the conditions of consumer's equilibrium in case of (1) single commodity and (2) two commodities. Use utility approach.
what are the four basic limitations of utility analysis?
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.??
who is a rational consumer
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?
What is market demand function?
what is the meaning of indifference set
what is the difference between utility and usefulness?????
Explain law of diminishing marginal utility with the help of utility schedule.
how many ice creams will a consumer have if ice cream is available free of cost ?
difference between slope and elasticity of demand?
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
difference between law of DMU law of Equi marginal utility? 6 points [6 marks]
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??????
happens to the budget set if the prices as well as the income double?
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 ?
what do we mean by the initial utility?
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?
when is budget line called price line?
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?
why do household buy more of a commodity at a lower price?
difference between ordinal and cardinal measurement of utility ( 4 marks )
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 ?
Distinguish between Substitute goods and Complementary goods.
define law of demand. discuss its assumptions and factors affecting demand
explain the reaction of consumer when 1. price ratio is higher than MRS 2. price ration is lower than MRS
explain the condition determining how many unit of good the consumer will buy at a given price
How is PPC affected by unemployment in the economy? Exaplain.
what are the conditions of consumer's equilibrium under the indifference curve approach?what change will take place if the condition are not fulfilled to reach equilibrium?
if two demand curves intersect which one has the higher price elasticity.
What is the difference between demand and quantity demanded?
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.
Explain why an indifference curve to the right shows higher utility level.
What is cross elasticity of demand ? Explain it with examples?
What are giffen goods? Explain with an example...
(a). Define slope of total utility curve.
(b). Explain law of diminishing marginal rate of substitution with help of table and diagram.
Law of Demand is a qualitative statement. Comment.
What is the relation between TU, MU and AU ?
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
WHAT HAPPENS TO CONSUMER EQUILIBRIUM WHEN IC IS CONCAVE TO ORIGIN ?
Why a consumer cannot purchase every combination of the two googds that he wishes to purchase??Give reasons.
What is the relationship between the slope and elasticity of a demand curve?
Consider the demand curve D(p)=10-3p. What is the elasticity at price 5/3? Please explain in detail.
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