State any two reasons for why a consumer buy more at a lower price

Q: How does a consumer determine how much of a good he or she will buy?

A: Consumer- Consumer is a person who purchases goods and services for the maximum satisfaction of…

Q: As a consumer, how can you sustain your needs (basic commodities) despite the challenges in…

A: Answer- Need to find - Ways to utilize your income to satisfy your demands at the most affordable…

Q: Does the income level of a person change their view of substitute goods?

A: Two goods are substitutes of each other if both can be used in place of another. Similar and…

Q: Differentiate between normal goods and inferior goods

A: Normal Goods: - Normal goods are those goods whose demand increases when the income of the consumer…

Q: Explain the relationship between the law of diminishing marginal utility and the law of demand.

A: Law of demand: It explains an inverse relationship between the quantity demanded and price, keeping…

Q: Differentiate between Normal goods and inferior goods

A: # Goods are classified as normal good and inferior based on the responsiveness of their demand due…

Q: How would universal basic income affect consumer optimum?

A: Universal basic income is a scheme to provide a specific sum of money to all the citizens of a…

Q: With the concept of Total Utility and Marginal Utility, explain why gold is more expensive than…

A: This problem can be explained using the theory of diamond water paradox in which consumers focus on…

Q: When ordering Big Macs, milkshakes, pizza, and other goods, how can you obtain the highest possible…

A: Total utility is the total amount of satisfaction received from consuming a good or service.…

Q: Suppose John decides to buy 4 units of food and 4 units of clothing with his $12 budget. Would his…

A: Marginal utility is defined as the additional utility derived from the consumption of an extra unit…

Q: An increase in Abi's income decreases her demand for DVD's. For her, DVD is [A] good.

A: Given the statement is  An increase in Abi's income decreases her demand for DVD's.  The inferior…

Q: What are the principles of Consumption in Muslim Consumer Behaviour?

A: Principles of Consumption in Muslim Consumer Behaviour are discussed below.

Q: 3.1. Explain, with the aid of examples, the following economic concepts in terms of utility theory:…

A: Utility means satisfaction which is derived  by the consumption of goods and services . There are…

Q: An individual sets aside a certain amount of his income per month to spend on his two hobbies,…

A: In economics, the demand curve is used to graphically represent the relationship between quantity…

Q: Explain three assumptions about the properties of consumers’ preferences.

A: Consumer preferences are defined as the tastes of people which is measured through utility. Consumer…

Q: It is a set of those combination of two goods which offer the consumer the same level of…

A: It is the Indifference set which act as an combination of the two goods which actually offers the…

Q: , what would be the new price of Shirts while Leyla consumes at point B?

A: The budget line shows the bundles which exactly exhaust the income(M)of the consumer. Here there are…

Q: A consumer has a budget to spend on Shoes and Socks. At their current levels of consumption, they…

A: Marginal utility per dollar is the amount of utility obtained by the consumer from spending one more…

Q: how do I illustrate an increase in a price of an item resulting in consumers buying another item

A: Law of demand says the more of goods is purchased at low price and vice versa keeping other factors…

Q: Give an example of substitute pair and an example of complement pair that you have encountered and…

A: There are two types of related goods :-  1. Substitute goods : - those goods that can be consumed at…

Q: When the consumer buys 60 units of quantity of goods at a price of 3 per unit what would be the…

A:

Q: What inferior goods that people buy?

A: Demand for inferior products is often determined by client behavior. Inferior smart refers to…

Q: If you buy less clothing because the price of clothing at your favorite store has gone up, what are…

A: Consumption of products and services in the economy by consumers is referred to as demand. Demand,…

Q: Question attahed in image

A: The study of consumer behavior is one of the fundamental issues in microeconomics. Consumer behavior…

Q: Define the word EMOTION and VALUE by citing your own example on how these two words are applied in…

A: The term "consumer purchases" refers to things that are utilized on a daily basis (e.g., clothing,…

Q: Cake and pastries are Substitute goods or complementary goods?

A: If two goods can be used on place of each other than they are Substitute goods and if they are…

Q: Given the market price of a good, how does a consumer decide as to how many units of that good to…

A: First we need to understand what is marginal utility. Marginal Utility - It is the additional…

Q: Define the term substitute goods.    Please explain in details.

A: In economics, goods are things that fulfill human needs and offer utility, such as a customer buying…

Q: The demand function of a consumer is given as Qd= 100-2p . If demand changes to Qd = 100-4p, find…

A: The demand function of the consumer is given to be Qd = 100 – 2P. When the price P is equal to the…

Q: What happens to consumption of a normal good when its price increases?

A: Normal goods are those whose demand increments as individuals' purchasing power and incomes rises.…

Q: Focus on the maxims of Quantity, Relation, and Manner. Which maxim(s) is/are flouted when someone…

A: Cooperative PrincipleThe cooperative principle is an idea in sociology and etymology that…

Q: Sohail’s income declines and as a result, he buys more pumpkin juice. Is pumpkin juice an inferior…

A: As Sohail buys more pumpkin juice as his income declines, here pumpkin juice is an inferior good.…

Q: It is a set of those combination of two goods which offer the consumer the same level of…

A: The consumers are considered to be one of the most important entity in an economy. The consumers…

Q: Which is more important to you, health or unlimited supply for your wants

A: Supply: It refers to the goods and services supplied in the economy to fulfil the demand of people…

Q: 32 24 16 4 8 12 16 20 24 Coffee (pounds per week) OA. A decline in his preferences for both gasoline…

A: Looking the the Sam's Budget line, to shift the budget line inward without changing its slope can be…

Q: If milk and Cheerios are such known to be complements the consumer consumes either one of this goods…

A: What we can say to the complementary goods describes that the amount of the goods whose certain…

Q: A change in which of the following will not shift the demand curve for hamburgers? Price of hot dogs…

A: The shift in the Demand curve: The shift in the demand curve of a commodity occurs due to the other…

Q: How a price change affects consumer optimum?

A: In consumer's equilibrium, consumer optimum means getting a maximum level of satisfaction after…

Q: Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores…

A: Marked up price= $102 Store is 15 minutes away from her place

Q: In what way may the income of the consumer affect his buying behavior?

A: The income of the consumer is the amount that the consumer has to spend on various goods and…

Q: What happens to the utility we get from each additional unit we consumed?

A: Utility refers to the want satisfying capacity of the individuals that includes the consumers those…