Question
What is meant by intermediate goods?
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OR
A consumer consumes only two goods X and Y and is in equilibrium. Price of X falls. Explain the reaction of the consumer through the Utility Analysis.OR
A consumer consumes only two goods X and Y and is in equilibrium. Price of good X falls. Show that it will lead to rise in demand for good X.OR
By spending his entire income only on two goods X and Y a consumer finds that, finds that $\frac{\text{MU}_\text{x}}{\text{P}_\text{x}}>\frac{\text{MU}_\text{y}}{\text{P}_\text{y}}$Explain how will the consumer react.OR
A consumer consumes two goods X and Y. what will happen if $\frac{\text{MU}_\text{x}}{\text{P}_\text{x}}$ is greater than $\frac{\text{MU}_\text{y}}{\text{P}_\text{y}}$?OR
A consumer consumes two goods X and Y. Explain what will happen if $\frac{\text{MUX}}{\text{PX}}$ is greater than $\frac{\text{MUy}}{\text{Py}}$?| Price (₹) | Demand (dx) | Demand (dy) | Market demand |
| 1 | 7 | 16 | - |
| 2 | 6 | 14 | - |
| 3 | 5 | 12 | - |
| 4 | 4 | 8 | - |
Units of labour | TP | $\text{MP}_\text{L}$ | $\text{AP}_\text{L}$ |
1. | 20 | - | - |
2. | - | 22 | - |
3. | - | - | 22 |