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

Money in an economic system, Money facilitates market activities and is ess...

Money facilitates market activities and is essential in complex market systems.  With money people can avoid the problems  associated with coincidence of wants.  Between, these pro

Microeconomic analysis, what is the theory of Second best? Prove the theore...

what is the theory of Second best? Prove the theorem with the help of a diagram.

Law of demand, identify any four other law of demand and give examples

identify any four other law of demand and give examples

Price Elasticity of supply, Explain the difference between elastic and fixe...

Explain the difference between elastic and fixed supply

Evolutionary model , Normal 0 false false false EN-IN ...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Significance of education to economic development, Normal 0 fal...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Short run demand curves, If the short run method to produce Q quantity is w...

If the short run method to produce Q quantity is with full time workers L=0.025*Q, COST OF WORKER IN THE SHORT RUN IS w=20226.154, how do you derive the value of Q

Effectively increases command over goods, Normal 0 false fals...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Examples of oligopolies abound, The U.S. automobile industry, the soft-drin...

The U.S. automobile industry, the soft-drink industry, the brewing industry, segments of the fast-food industry, and airplane manufacturers. Oligopoly will usually produce less tha

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