Equibilium, Microeconomics

Assignment Help:
Suppose Dlamini has R5 000 to spend on trousers and shirts. The price of trousers is R500
each and that of shirts is R312.50 each.
6.1 Use the information and calculate consumer equilibrium for Dlamini. (5)
6.2 Use a diagram and graphically illustrate consumer equilibrium. Remember to
incorporate indifference curves and a budget line in your diagram. (7)

Related Discussions:- Equibilium

Marginal utility and indifference curve, Marginal Utility and Indifference ...

Marginal Utility and Indifference Curve - If the consumption of a product moves along an indifference curve, additional utility derived from the increase in consumption of sing

Create a multi-dimensional arrays, Create a Document that displays informat...

Create a Document that displays information about cars. First, create a select with an id="make". It will not have any makes in the options until the page finishing loading. When t

Public good , Graphically illustrate how society decides on the number of p...

Graphically illustrate how society decides on the number of police officers to hire

Define credit, Q. Define Credit? Credit:Ability to purchase something w...

Q. Define Credit? Credit:Ability to purchase something without immediately paying for it - through a credit card or bank loan, a mortgage or any other forms of credit. Creation

Neoclassical economics, In neoclassical economics, equilibrium exists when ...

In neoclassical economics, equilibrium exists when supply equals demand for a particular commodity. General equilibrium is a special (purely hypothetical) condition in which every

Types of unemployment, Types of unemployment: Frictional Unemployment...

Types of unemployment: Frictional Unemployment: -It refers to unemployment caused by changes in individual labour markets.This is the type of unemployment resulting from peop

Gains from international trade, Gains from International Trade: It lea...

Gains from International Trade: It leads to increased total world production of goods and services. International trade based on comparative cost advantage allows countries to

Input substitution when the input price change, Input Substitution When the...

Input Substitution When the Input Price Change  Isoquants and Isocosts and Production Function The minimum cost combination can be written as: - Minimum cost

Determine comchip optimal output, You are the CEO of Comchip, a firm that s...

You are the CEO of Comchip, a firm that sells specialized computers. Each of the firm's computers contain a unique chip that is produced at Comchip's west coast plant at a cost of

The supply curve , The Supply Curve  – The supply curve exhibits how mu...

The Supply Curve  – The supply curve exhibits how much of a good manufacturerss are willing to sell at a particular given price, holding constant  other factors that can aff

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd