402 - Economics | Autumn 2022 | Assignment No 1 | Question No 3| How do you explain the consumer equilibrium with the help of indifference curves? Also discuss the concept of income-consumption curve with the help of a diagram.
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402 - Economics | Autumn 2022 | Assignment No 1 | Question No 2| Is utility another name of usefulness? After discussing marginal utility, define law of diminishing marginal utility. Also explain this law with the help of a table having hypothetical data and the diagram drawn on the basis of this hypothecal table.
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402 - Economics | Autumn 2022 | Assignment No 1 | Question No 1| Which definition of economics is based upon the notions of ends, means and alternative uses. Also discuss why the said definition is preferred over all other definitions.
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