Consumers Equil...

___________ is the rate at which a consumer is willing to substitute one good for the other maintaining the same level of utility.

The coefficient of price elasticity of demand is always:

What does the Law of Demand state?

Consumer surplus is more in the case of ________.

_____________ is the addition to total utility by the consumption of one additional unit of the commodity.

The total utility divided by the number of units consumed is known as?

When the income elasticity of demand is greater than unity, the commodity is ________.

When the price of a good increases, what happens to the demand for its substitute?

The falling shape on the right side of the demand curve is due to:

What does monotonicity of preferences imply?