1. Lecture 2Utility Analysis of Demand 2. Theory of Demand• Theory of demand explains– Relation ship between commodity demanded and itsprice– Variations in demand•…

A PROJECT REPORT ON “MARGINAL UTILITY DECREASES FROM THE VERY SECOND UNIT OF CONSUMPTION BUT EXCEPTIONAL CASES MAY HAPPEN” Under the guidance of FACULTY CO-ORDINATOR…

1. 1DEMAND ANALYSIS DEMAND DETERMINANTS, LAW OF DEMAND AND ITS EXCEPTIONS Introduction: The scope of economics broadly comprises 1. Consumption: - it deals with the behaviour…

1. 1 Cardinal Utility Approach What is utility? • A want satisfying capacity of a commodity or service. • Utility is found in both useful and harmful goods. • Utility…

1. CONSUMER BEHAVIOUR Consumer is a king -- buying power, preferences & price signals Preference & choice Objectives To derive maximum utility To pay lowest possible…

Slide 1Theory of Consumer Behaviour Topic no. 4 Slide 2 Introduction Each consumer has to face the problem of multiplicity of wants and limited income. In such state of affairs…

1. LAW OF EQUI- MARGINAL UTILITY 2. LAW OF EQUI-MARGINAL UTILITY THE LAW OF EQUI-MARGINAL UTILITY IS THE FURTHER ELABORATION OF THE LAW OF DIMINISHING MARGINAL UTILITY. IT…

1. Assumptions of Utility  Rational consumer  Cardinal utility  Divisibility  Independent utility  Diminishing Marginal Utility 2. Concepts of Utility On the…

Slide 1DEMAND BY ALANNA SMYTH Slide 2 DEMAND…..  Means the number of units of a good which consumers are willing to purchase at any given market price at any given time…

Slide 1 The Law of Equi-Marginal Utility ……… Slide 2 The Law of Equi-Marginal Utility………. An extension to the law of diminishing marginal utility. Slide 3 The…