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Attempt all the problems shown below:

problem 1: Illustrate the law of equi-marginal utility. Describe with the help of diagram, how does a consumer attain equilibrium?

problem 2: What do you mean by the term Elasticity of Demand? How would you measure the price elasticity of Demand?

problem 3: What do you understand by the term production possibility curve? Describe it with the help of an appropriate illustration.

problem 4: Illustrate a firm’s short period equilibrium under perfect competition with the help of appropriate diagram.

problem 5: prepare short notes on the given terms:

a) Cardinal approach to utility.
b) Quasi rest.
c) Extension of demand.
d) Competitive wages.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92256

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