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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.??
difference between budget set and budget line?
production possibility curve is concave to the origin. explain with the help of a numerical example.....
Why slope of Budget line is represented by Price Ratio?
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 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 ?
(a). Define slope of total utility curve.
(b). Explain law of diminishing marginal rate of substitution with help of table and diagram.
What are the differences between Marginal Opportunity Cost and Marginal Rate of Substitution ?
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
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
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 is the difference between a budget line and an indifference curve
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
how many points are required to be written for a 6 marks question?
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 ?
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.
explain the reaction of consumer when 1. price ratio is higher than MRS 2. price ration is lower than MRS
Give the situation in which the determinants of budget line change but the budget line does not change.
what do we mean by the initial utility?
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.
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.
Following is the MU schedule for goods X and Y. Both the goods are priced ar Ts 1 and money income of an individual is Rs 5. How many units of both commodities should he purchase to maximise his total utility?
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 ?
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?
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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