Theory of Demand and Indifference Curve .pdf.

                                  

                                  

Theory of Demand

Assumptions/Limitations:

Definition of Marginal Utility:

Importance of Law of Diminishing Marginal Utility:

Assumptions/Limitations:

Practical Application of Law:

Demand Curve:

Assumptions of Law of Demand:

Difference between Movement and Shift of Demand Curve:

Elasticity of Demand

Kinds of Elasticities of Demand:

Indifference Curve Analysis

Properties of Indifference Curve:

Price Line:

Consumer’s Equilibrium:

Income Effect:

Substitution Effect:

Price Effect:

Giffen Goods:

Exception Cases of Consumer’s Equilibrium:

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By M.A.F.Saleem.