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Explain the difference between price consumption curve and a demand curve?
Wiki User
∙ 11y ago
A price consumption curve identifies the utility maximizing combinations of two goods as the price of one of the goods changes. When the price of one of the goods declines, the budget line will pivot outwards, and a new utility maximizing bundle will be chosen. The price consumption curve connects all such bundles. A demand curve is a graphical relationship between the price of a good and the (utility maximizing) quantity demanded of a good, all else the same. Price is plotted on the vertical axis and quantity demanded on the horizontal axis.
Wiki User
∙ 11y ago
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Explain what determine the optimum level of consumption for a consumer?
what determines the optimum consumption of an consumer is their income and their demand for goods and services.
How is demand different from consumption?
Consumption is a specific type of demand - demand for goods and services.
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distinguish between a term security and a demand security
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Demand is to ask for something forcibly. Exchange is to trade.
Difference between a demand schedule and demand curve?
Demand schedule is a tabular representation nd Demand curve is a graphical representation
Explain what determine the optimum level of consumption for a consumer?
what determines the optimum consumption of an consumer is their income and their demand for goods and services.
Difference between elastic and inelastic demand?
difference between elastic and inelastic demand
How is demand different from consumption?
Consumption is a specific type of demand - demand for goods and services.
What is the difference between a term security and a demand security?
distinguish between a term security and a demand security
What is the difference between demand and exchange?
Demand is to ask for something forcibly. Exchange is to trade.
Difference between a demand schedule and demand curve?
Demand schedule is a tabular representation nd Demand curve is a graphical representation
Is demand same as consumption?
no
What is energy demand and consumption?
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1.two part tariff= maximum demand+energy consumption (150 kva + any greater than 150 kva consumption) 2.three part tariff=maximum demand+energy consumption+ any energy charge (150 kva + any greater than 150 kva consumption + out source any energy charge ) unlimited usage of tariff is nothing but three part tariff
What is the difference between a demand schedule and a demand curve?
a demand schedule is a table showing the relationship between the price of a good and the quantity demanded , but a demand curve is a graph showing the relationship between the price of a good and the quantity demanded.
Marginal productivity of labour and the demand for labour .?
Graphically illustrate and explain the relationship between marginal productivity of labour and the demand for labour .
What is the difference between demand function and demand schedule?
Demand schedule: a list of demand/price equivalencies. It can best be seen as a table with discrete points. Demand function: a continuous function of price-demand interaction. Main difference: schedule is discrete; function is continuous.
