Explain how a bandwagon effect might speed up the rate

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1) Explain how the indifference curve and budget line apparatus are used to derive a consumer's demand curve. For a demand curve, certain thing are held constant. What are they, and how does this approach them constant.

2) Delores has a different price-consumption curve associated with each possible income level. If two of these curves intersect, are Delores' preference rational?

3) Explain how a bandwagon effect might speed up the rate at which DVD players are adopted by consumers. Do likewise for the case of cable television subscriptions.

Reference no: EM13214844

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