Consumers Equil...

The value of elasticity in case of a rectangular hyperbola demand curve will be

A consumer reaches equilibrium at the point where:

Due to a 10 percent fall in the price of a good, its demand rises from 400 units to 450 units. Calculate its price elasticity of demand.

The elasticity of demand on different points on a linear demand curve is different. It is

What does monotonicity of preferences imply?

What will you say about MU when TU is maximum?

Suppose a consumer’s preferences are monotonic. What can you say about his preference ranking over the bundles (10,10),(10,9) and (9,9)?

Suppose the price elasticity of demand for a good is – 0.2. How will the expenditure on the good be affected if there is a 10 % increase in the price of the good?

Price elasticity of demand for wheat is equal to unity and a household demands 40 Kg of wheat when the price is Rs.1 per kg. At what price will the household demand 20 kg of wheat?