Video Lecture and Study Material. Prepare all 11 chapters of Class 11 Micro Economics thoroughly while learning through video tutorials and practicing through questions, quizzes and much more in a few clicks!
Using the AD/AS Model to Explain Inflation and the Business Cycle
Login Sign Up. Home Courses Posts. Categories Class 11 Economics Micro. Details The all-in-one collection you need to prepare and revise Class 11 Micro Economics Prepare all 11 chapters of Class 11 Micro Economics thoroughly while learning through video tutorials and practicing through questions, quizzes and much more in a few clicks! Lecture 1. Lecture 2. Lecture 3. Lecture 4.
Objective Questions. Define utility. Define total utility. How much is total utility at zero level of consumption?
Macroeconomic Equilibrium
How is total utility derived from marginal utility? Define marginal utility. If one burger gives you satisfaction of 15 utils and 2 burgers generate total satisfaction of 25 utils, then calculate the marginal utility of second burger. What happens to marginal utility, when the total utility is maximum?
Why does TU increase at a diminishing rate due to continuous increase in consumption? What is law of diminishing marginal utility. What is meant by consumer's equilibrium?
What is the general condition of consumer's equilibrium with respect to any particular product? What is meant by MU of one rupee? Define an indifference curve.]
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