This unit covers the cardinal approach (assumptions, consumer's equilibrium, criticisms and derivation of the demand curve) and the ordinal approach: indifference curves, marginal rate of substitution, price line, consumer's equilibrium, price, income and substitution effects, and derivation of the demand curve for normal goods.
Analysis of Consumer's Behavior
Analysis of Consumer's Behavior
Learn Analysis of Consumer's Behavior in Microeconomics for Business with comprehensive educational content from Padandas.
Nov 7, 2026
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1.
Asked in 2077 (2 marks)
Derive budget line if budget of consumer is Rs. 10000, Price of good X is Rs. 100 and price of good Y is Rs. 200.
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2.
Asked in 2077 (10 marks)
Explain the consumer's equilibrium by using indifference curve approach.
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3.
Asked in 2078 (2 marks)
List out any four assumptions of indifference curve analysis.
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4.
Asked in 2078 (15 marks)
What is price effect? How can it be decomposed into income effect and substitution effect?
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5.
Asked in 2079 (2 marks)
Write any four assumptions of cardinal approach.
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6.
Asked in 2079 (15 marks)
Explain the price effect for normal substitutes. How can it be decomposed into income and substitution effects? Explain.
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