Determinants of Demand / Factors affecting Demand
Law of demand states the relationship between price and quantity demanded by assuming “other things remaining the same”. When there …
Economics Live
Meaning of Demand
In day-to-day language, we often consider meaning of demand as desire. Desire means an urge to have something. In Economics, …
Questions on differentiation (Chain Rule)
Given some examples of solving question from Chain Rule. Follow the steps and solve rest of the questions given below. …
Questions on differentiation (Division/Quotient Rule)
Questions Answers 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. …
Questions on differentiation (Multiplication Rule)
Questions Answers 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. …
Questions on differentiation (addition and subtraction)
Note(For mobile users): For better view request for desktop site and/or rotate your phone to landscape mode. Questions Answers 1. …
Public Goods
The pure public good has been the subject of most economic analysis of public goods. In many ways the pure …
Law of Variable Proportion
The law of variable proportion occupies an important place in economic theory. This law examines the production function with one …
Indirect Utility Function
In the cardinal utility approach, the utility function was direct in the sense that the total utility was related to …
Cardinal Utility
The consumer is assumed to be rational. Given his income and the market prices of the various commodities, he plans …