Unit 1:Shift and rotation of budget line (change of slope and intercept)

this topic explains the factors that may cause the budget line to shift/ rotate.

Unit 1:Impact of tax/subsidy and rationing on budget line

This topic explains the impact of a tax/ subsidy on the consumers' budget line.

Unit 1:Demand behavior for commodities

This topic explains the demand behaviour with respect of necessary & luxury, substitute & complementary and for good & bad.

Unit 1: Concept of utility: cardinal (Marshallian) versus ordinal (Hicks-Allen), marginal utility and its variation

This topics explain the concept of utility, the two approaches to measure utility i.e cardinal and ordinal utility analysis. It introduces the concept of total and marginal utility.

Unit 1:Equimarginal utility: cardinal equilibrium, derivation of demand curve from law of diminishing marginal utility.

This topic introduces the Law of Equimarginal Utility. It also explains how a demand curve can be derived from the Law of diminishing Marginal Utility.

Unit 2:Marginal rate of substitution and shape of indifference curve

This Topic introduces the concept of marginal rate of substitution which is the slope of Indifference curves. It also explains the shape of Indifference curves in the case of perfect substitutes, perfect complements, good-bad, normal-neutral

Unit 4: Explanation of three stages in production

Unit 5: Total and average/marginal revenues in competitive and imperfectly competitive markets

: 3.4 Determining consumer’s surplus
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