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Sample Lesson Plan- Conusmer's Equlibriumclass XIeconomics

Cardinal Utility Approach, Concept of Utility, Law of Diminishing Marginal Utility, Consumer's Equilibrium, Ordinal Utility Approach, Budget Line, Consumer's Equilibrium by indifference curve analysis

  • remembering means recall facts and basic concepts
  • understanding means explain ideas or concepts
  • application means use information in new situation
  • analysis means draw connection among ideas

  1. Law of diminishing Utility will operate even if consumption takes place in intervals. Defend or Refute.

  2. How many ice creams will a consumer have, if they are available free of cost?

  3. A consumer consumes only two goods X and Y both prices at Rs 3 per unit. If the consumer chooses a combination of these two goods with Marginal Rate of Substitution equal to 3, is the consumer in equilibrium? Give reasons. What will a rational consumer so in this situation? Explain.

  4. After reaching a point of equilibrium, consumer would not like to change his allocation of expenditure on Goods X and Y even if the price of Good X changes. Do you agree? Comment

  5. Explain why budget line is downward sloping?

Surekha Waldia
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