The price and quantity at a point on the demand curve of a good are given as 10 and 50 respectively. If the price is changed to 6 and as a result quantity changes to to 65, how do you explain the change.

Suppose a consumer purchase 15 bananas when its price is Rs. 5 per banana. When the price increases to Rs. 7 per banana, consumer reduces his demand to 12 bananas. Price elasticity of demand would be...........

1. 0.5
2. 0.6
3. 0.4
4. 0.7

The economic concept at which the consumer is willing to substitute one good for the other?

Savita consumes 2 goods X and Y. If marginal utility of X is 30 utils and that of Y is 45 utils. Prices of both goods X and Y are Rs. 3 and Rs. 5 respectively. Savita will consume ________.

An explanation for a downward sloping demand curve rests on the notion of :

Which of the following inequality represents the consumer's budget constraint ?

Identify the features of indifference curve ?

(A) An indifference curve reflects same utility level with different combinations.

(B) Indifference curve are downward sloping from right to left.

(C) Higher indifference curve gives greater level of utility.

(D) Two indifference curve never intersect each other.

Choose the correct answer from the options given below: