Explain consumer's equilibrium in case of a single commodity with the help of a utility schedule.

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Using indifference curve approach, explain the conditions of consumer's equilibrium.

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Why is the consumer in equilibrium when he buys only that combination of the two goods that is shown at the point of tangency of the budget line with an indifference curve? Explain

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A consumer consumes only two goods. Explain the conditions that need to be satisfied for the consumer to be in equilibrium under indifference curve analysis.

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Show diagrammatically the conditions for consumer's equilibrium, in Hicksian analysis of demand

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Explain the conditions of consumer's equilibrium under indifference curve approach

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There is given the price of a good, how does a consumer decide as to how much quantity of that goods to buy?

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Differentiate between Cardinal and Ordinal Utility.

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A consumer consumes only two goods X and Y both priced at Rs.2 per unit. If the consumer chooses a combination of these two goods with Marginal Rate of Substitution equal to 2, is the consumer in equilibrium? Give reasons. What will a rational consumer do in this situation? Explain.

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A consumer consumes only two goods X and Y whose prices are Rs.4 and Rs.5 per unit respectively. If the consumer chooses a combination of the two goods with marginal utility of X equal to 5 and that of Y equal to 4, is the consumer in equilibrium? Give reasons. What will a rational consumer do in this situation? Use utility analysis.

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