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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.??
what do we mean by the initial utility?
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.
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
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?????
difference between law of DMU law of Equi marginal utility? 6 points [6 marks]
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?
Why budget line is a straight line ?
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
What is the relation between TU, MU and AU ?
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 ?
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??????
Why slope of Budget line is represented by Price Ratio?
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.
Please give me the answers of the following questions :
1. Define Microeconomics.
2. Why an economic problem does arises?
3. What are the central problems of an economy?
4. Define opportunity cost.
5. Define marginal opportunity cost.
6. Distinguish between micro and macro economics.
7. Why PPC is Concave from the origin.
8. Define Marginal Rate of Transformation (MRT)
9. Explain the problem, of what to produce and how to produce.
10. Explain the central problem of how to produce with the help of an example.
11. What is an indifference curve?
12. Define Utility.
13. What is budget set?
14. Define budget line.
15. Define MRS.
16. A consumer consumes only two goods. Explain the conditions of consumers
equilibrium with the help of IC analysis.
17. For a consumer to be in equilibrium, why must MRS be equal to the ratio of price of
18. What is an indifference map?
19. Explain the law of demand with the help of diagram and schedule.
20. Write three causes of increase / decrease in demand
21. Distinguish between the change in quantity demanded and change in demand.
22. Explain any three factors or determinants of demand.
23. Explain any three factors affecting elasticity of demand
24. Explain the price elasticity of demand through geometric method.
25. Explain the price elasticity of demand through expenditure method
26. Explain the properties of indifference curve.
27. Why can not two indifference curves meet each other?
28. Why is indifference curve convex to origin?
29. Why does higher indifference curve gives higher levels of satisfaction?
Why marginal rate of substitution of two goods continuously falls ?
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.
What is the difference between demand and quantity demanded?
Give the situation in which the determinants of budget line change but the budget line does not change.
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...
What are the differences between Marginal Opportunity Cost and Marginal Rate of Substitution ?
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 ?
how does the equillibrium price of a normal commodity change when income of its buyer falls. explain the chain effect with diagram
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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