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Online Coaching for Indian Economics Services and Other Courses

IES, IAS Economics Optional & UGC Net Economics Preparation

Online Courses: Indian Economic Services, IAS Economics Optional, UGC Net Economics

  • January 23, 2022
  • admin

Theory of Consumer Demand

7. Applications of Indifference Curve Analysis | Compensating and Equivalent Variation | Income Subsidy vs Price Subsidy |

Topic Discussed

  1. Application of Indifference curve Analysis
  2. Equivalent Variation
  3. Excise Subsidy or Lump sum Income Subsidy

8.Price, Income and Substitution Effects (IES 2010, 2011, 2012, 2016, 2017)

Topic Discussed:

  1. Income and Substitution Effect of a fall in price of X
  2. Slutskian Approach
  3. Comparison of Slutskian and Hicksian Methods
  4. Effects of a price change for inferior goods
  5. Effect of a price change for a Giffen goods
  6. Giffen’s Paradox
  7. Inferior Goods

Past Year Questions Discussed in this class/ recording :

IES 2011, Q 2

IES 2017, Q 1 (b)

IES 2012, Q 2

IES 2012, Q 1 (e)

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