Indifference Curve Approach:
Marshall’s demand analysis depends on the cardinal measurement of utility. The approach is criticized for two main reasons:
(i) Utility is a psychological occurrence and(ii) It can’t be measured. Therefore, the indifference curve approach depend on ordinal ranking preference was evolved. Vilfred Pareto, Wicksteed & Slutsky developed this approach. Two noted English economists Professor J.R. Hicks and Professor Allen offered a refined version of indifference curve approach. According to Hicks and Allen, utility can’t be measured. It can only be ordered or ranked. The consumer can rank his preference without difficulty and state which is enhanced than the other.
The concept of scale of preference has been elucidated by indifference curve. The indifference curve exhibits various combinations of two commodities that provide the consumer an equivalent satisfaction.Definition:
An indifference curve is the locus of various combinations of two commodities providing the similar level of satisfaction.Assumptions of indifference curve analysis:
1. The consumer is rational. Therefore, he prefers more goods to fewer goods.2. He bought two goods, X & Y only.3. The price which a consumer pays for a commodity points out the level of utility derived by him.4. His income stays constant.5. His preferences, tastes, habits stay unchanged.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Theory of Consumer Behavior help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Theory of Consumer Behavior, project ideas and tutorials. We provide email based Theory of Consumer Behavior help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Theory of Consumer Behavior. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Theory of Consumer Behavior. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
www.tutorsglobe.com offers addition reactions of dienes homework help, addition reactions of dienes assignment help, online tutoring assistance, organic chemistry solutions by online qualified tutor's help.
tutorsglobe.com darwinism assignment help-homework help by online theories of evolution tutors
Theory and lecture notes of Independent Samples all along with the key concepts of Independent samples, Sums and Differences of Independent Variables, Difference of the Means, Population Variances Known, Population Variances Unknown. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Independent Samples.
A significant step in computation and analysis of cost is the categorization of costs into various types. Classification assists in better control of the costs and also assists significantly in decision making.
Ecological Population tutorial all along with the key concepts of Density, Distribution and Size, Growth Patterns, Mortality Patterns and Survivorship Curves, Age Structure, Population Growth Curve, Population Growth Rate, Basic Concepts of Rate
www.tutorsglobe.com offers Depreciation of Plant and Machinery homework help, assignment help, case study, writing homework help, online tutoring assistance by accounting tutors.
Theory and lecture notes of Production Function all along with the key concepts of production function, building blocks of the Flexible-Price Model, Keynesian assumption, classical flexible-price assumption. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Production Function.
tutorsglobe.com nitrogen fixation in non-legumes assignment help-homework help by online non-biological fixation tutors
Top-class Atheism Assignment Help service is available round the clock to get rid of all your academic problems at low rates.
Fault Finding Technique involves both the fault finding and rectification of it. It is a very responsive job. It needs proper tools, circuit diagram, test equipment and similar components.
Operators tutorial all along with the key concepts of Linear Operators, Eigen-values of a Linear Operator, Expectation value, Commutators and simultaneous Eigen-states and Matrix Elements of a Linear Operator
Water Chemistry and Analysis tutorial all along with the key concepts of Water temperature, pH, Specific conductance, Specific conductance
tutorsglobe.com deflation assignment help-homework help by online inflation and deflation tutors
Theory and lecture notes of Fiscal Policy-Automatic Stabilizers all along with the key concepts of Rules vs. Authorities, Competence and Objectives, Political Business Cycle , Central Bank Independence. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Fiscal Policy-Automatic Stabilizers.
Greek Art Assignment Help is the one stop destination - provides HD quality solutions with timely delivery at best prices.
1932944
Questions Asked
3689
Tutors
1494961
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!