4.What is marginal utility?
5.What is marginal utility per dollar?
6.What is consumer equilibrium? Please explain.
7.What is Budget constrain?
8.What is Budget line?
9.What is indifference curve?
10.what will happen if there is increase in income? Please explain using the budget line and indifferent curve.
11.Assume Mr.John has two goods of consumption (rice and milk) what will happen if there is increase in price of milk? Please explain using the budget line and indifferent curve