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A consumer consumes only two goods X and...

A consumer consumes only two goods X and Y. The Marginal Rate of Substitution is 1. Price of X and Y are Rs 3 and Rs 4 per unit respectively. Is the consumer in equilibrium ? What will be further reaction of the consumer ? Give reason

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A consumer consumers only 2 goods X and Y. The marginal utilities of X and Y is 3. Prices of X and Y are Rs.2 and Rs.1 respectively. Is consumer in equilibrium ? What will be further reaction of the consumer ? Give reasons .

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SANDEEP GARG-CONSUMER'S EQUILIBRIUM-Short Answer type questions
  1. What are monotonic preferences ? Explain why an indifference curve to ...

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

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

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

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

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

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

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

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

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

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

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

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  13. A consumer consumes only two goods X and Y. The Marginal Rate of Subst...

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  14. Higher indifference curve respresent higher level of satisfaction of t...

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  15. Explain the reaction of the consumer when Price Ratio (or Market Rate ...

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  16. Explain conditions of consumer's equilibrium under indifference curve ...

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  17. Explain the meaning of 'Budget set' and 'Budget line'

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  18. Explain the meaning of marginal rate of substitution. Why does it dimi...

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  19. Explain the meaning of budget line. What can cause a change in it? Exp...

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  20. Why is budget line a straight line? Explain

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