Home
Class 11
ECONOMICS
How does a consumer reach equilibrium po...

How does a consumer reach equilibrium position when he is buying only one commodity ? Explain with the help of utility schedule.
OR
Given the market price of good, how does a consumer decided as to how many units of that goods to buy ? Explain
OR
Explain conditions determining how many units of a good consumer will buy at a given price.

Promotional Banner

Topper's Solved these Questions

  • CONSUMER'S EQUILIBRIUM

    SANDEEP GARG|Exercise Long Answer type question|17 Videos

  • CONSUMER'S EQUILIBRIUM

    SANDEEP GARG|Exercise Practicals on TU and MU|9 Videos

  • CONSUMER'S EQUILIBRIUM

    SANDEEP GARG|Exercise Very short anwer type question|34 Videos

  • COST

    SANDEEP GARG|Exercise Unsolved Practicals|42 Videos

Similar Questions

Explore conceptually related problems

Explain consumer's equilibrium, in case of a single commodity, with the help of utility schedule. OR Explain conditions determing how many units of a good consumer will buy at a given price.

How is equilibrium price of a commodity determined? Explain with the help of a demand and supply schedule

A consumer consumes only two good. Explain equilibrium with the help of utility approach.

SANDEEP GARG-CONSUMER'S EQUILIBRIUM-Short Answer type questions
  1. Define marginal utility. State the law of diminishing marginal utility

    Text Solution

    |

  2. Explain the various points of relationship between marginal utility an...

    Text Solution

    |

  3. How does a consumer reach equilibrium position when he is buying only ...

    Text Solution

    |

  4. Explain the conditions of consumer's equillibrium in the indifference ...

    Text Solution

    |

  5. Define the following terms: (i) Indifference curve, (ii) Indifference ...

    Text Solution

    |

  6. What is the law of diminishing marginal product?

    Text Solution

    |

  7. Explain the relation between total utility and marginal utility

    Text Solution

    |

  8. Define an indifference curve. Explain why an indifference curve is dow...

    Text Solution

    |

  9. What are monotonic preferences ? Explain why an indifference curve to ...

    Text Solution

    |

  10. Define an indifference map. Explain why an indifference curve to the r...

    Text Solution

    |

  11. Explain the distinction between budget set and budget line.

    Text Solution

    |

  12. Define Marginal Rate of Substitution. Explain why is an indifference c...

    Text Solution

    |

  13. Explain the difference between cardinal utility and ordinal utility. G...

    Text Solution

    |

  14. What is budget line ? Why is it downward sloping

    Text Solution

    |

  15. Explain the meaning of diminishing marginal rate of substitution with ...

    Text Solution

    |

  16. Explain the concept of 'marginal utility' with the help of a numerical...

    Text Solution

    |

  17. Explain why an indifference curve is convex to the origin ?

    Text Solution

    |

  18. A consumer consumers only two goods A and B and is in equilibrium. Sho...

    Text Solution

    |

  19. A consumer consumes two goods X and Y. What will happen if MU(x)//P(x)...

    Text Solution

    |

  20. A consumer consumes only two good X and Y. Marginal utilities of X and...

    Text Solution

    |