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Theory Of Consumer Behaviour

Question

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State three causes of rightward shift of demand curve.

Solution

Solution not provided.

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Hint, (i) Increase in income of buyers of normal good, (ii) Fall in price of complementary good, and (iii) Favourable change in taste of commodity.

Some More Questions From Theory Of Consumer Behaviour Chapter

Why is MRS always diminishing?

When does a consumer attain equilibrium according to indifference curve approach?

Give meaning of demand.

Name two determinants of demand.

List the factors that cause changes in demand.

What is law of demand?

What is demand schedule?

Why does demand curve slope downwards?

Differentiate between substitute and complementary goods.

What is meant by one good being substitute of other?

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