Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Write about the assumptions of the theory of consumer behavior based on the cardinal utility approach. 1. Rationality- It is assumed that the consumer is a rational being in the sense that he satisfied his wants in order of their preference
2. Limited money increment- He had a limited money income to spend in the goods and services to choose to consume
3. Maximization of Satisfaction- every rational consumer intends to maximize her satisfaction from given money income
4. Utility is cardinally measurable- The cardinalists have assumed that utility is cardinally measurable and that utility of one unit of a commodity equals the units of many which a consumer is prepared to pay for it
5. Diminishing marginal utility- It is assumed that utility gained from the successive units of a commodity consumed decreases as a person consumes them
6. Constant marginal utility of money- It remains constant whatever the level of a consumers income
7. Utility is additive- Not only utility is cardinally measurable, but also that utility derived from various goods and services consumed by a consumer can be added together to obtain the total utility.
tion..What is the range of gross barter terms of trade ?
Q. What is the theory of Second Best? Answer: The principal of the second best notify us that when an economy suffers from multiple distortions the removal of only a few
A vast body of literature has been dedicated to the study of social support and satisfaction. Social support is commonly viewed as one of the most important concepts of close pers
under fleible exchange rate regime what are the consenquences of current account deficit and surplus
een subject to a discrimination complaint as a result of their recent recruitment campaign- They told the recruitment agency that they were looking for ‘young women with flair'' to
Q. Even though it is very clear in the context of the Specific Factors model that an expansion of international trade will make losers as well as winners, economists still claim t
Offer curves with example and explabation
Theories about the Problems of LICs are discussed below: In order to explain this big problem of poverty and of the asymmetric ownership of the wealth and income in the world,
discus how every economy is essentially part of the international economy
Marketing Considering that customer relationship marketing places a progressive and developmental expectation on organisations consider a start point for such an activity and ho
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd