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SANDEEP GARG-CONSUMER'S EQUILIBRIUM-Revision Exercise
- Indifference curves are convex to the origin because of:
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- The necessary conditions under utility approach to attain consumer's e...
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- When we add up utility derived from consumption of all the units of th...
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- Marginal Utility (MU) in terms of money is equl to:
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- According to the Law of diminishing marginal utility, satisfaction obt...
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- Indifference Map refers to:
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- Budget set inculdes:
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- Indifference curves are :
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- Which of these is a conditions for consumer's equilibrium by indiffere...
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- If (MU(X))/(P(X)) gt (MU(Y))/(P(Y)), then to reach the equilbrium posi...
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- If the consumption of an additional unit of a commodity casues no chan...
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- An indifference curve is best described as a series of points which sh...
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- Total Utility is at the point of satiety:
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- Marginal Utility (MU) of n^(th) unit is calculated as:
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- In case of single commodity, consumer's equilibrium is achieved when:
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- measures the slope of indifference curve.
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- In the following diagram of budget line, point ''D'' represents :
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- How is TU derived from MU ?
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- What happends to MU when TU is maximum ?
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- An indifference curve always:
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