Relationship between Total utility and Marginal utility
Ajit Kumar Quantity of Ice cream Total utility Marginal utility 0 0 – 1 10 10 2 18 8 3 25 7 4 31 6 5 31 0 6 29 -2
November 2023
Consumer equilibrium
Consumer equilibrium refers to a situation when the consumer’s satisfaction from a commodity equals the amount that they are paying to purchase the commodity. Price can be easily measured, however,…
Understanding Microeconomics: An Introduction to the Study of Individual Economic Behavior
Microeconomics is a branch of economics that focuses on the study of individual economic behavior. It is concerned with the decisions made by individuals, households, and firms, and how these…
Foreign exchange
It is the rate, at which domestic currency is exchanged for foreign currency. For Example 1$= 70 Indian Rupee. Exchange rate system can be constituted as: Fixed Exchange rate system…