Explore the Hicks substitution effect in microeconomics, from intuitive explanations of utility theory and graph diagrams to real-world examples, exam strategies, and comparisons with the Slutsky method.

This article delves into the key concepts of inverse and direct demand functions, explaining how they show the relationship between price and quantity demanded. It also covers demand curve interpretation and practical applications in market analysis.

Welcome to our microeconomics guide on how to derive the demand curve from the Price Consumption Curve (PCC). We’ll explore how a consumer's equilibrium changes with the price of a good, and how plotting these changes leads to the demand curve. Along the way, we'll highlight the critical income and substitution effects shaping consumer decisions. This ordinal approach gives a richer understanding than traditional demand schedules. Whether you're a student or enthusiast, this

This article delves into the mathematical definitions of supremum and infimum, exploring how they serve as bounds on sets and functions, their properties, and use cases in advanced mathematics.

Learn how price discrimination works under monopoly, how monopolists set different prices in segmented markets, the role of elasticity, and the impact on profits and consumer surplus. Detailed explanation with examples and graphical illustrations.

Learn the fundamental types of demand and supply curves and their elasticity characteristics. This microeconomics guide explains what influences shifts in curves and how market interactions lead to equilibrium prices and quantities.

SECTION—A (Compulsory Section) 1. Answer all the following parts in about 100 words each:5×6 = 30 (a) How is an optimum tax rate defined?...

Preparing for the UGC NET Economics exam is a rigorous and challenging endeavor that requires more than just a basic understanding of...

UGC NET exam is a national level test undertaken to judge eligibility of candidates for the role of “Assistant Professor” and “Assistant...