Question

A CONSUMER IS CONSUMING TWO GOODS X AND Y AND IS IN EQUILIBRIUM. THE PRICES OF X AND Y ARE RS 10 AND RS20 RESPECTIVELY AND THE MARGINAL UTILITY OF GOOD IS Y IS RS 50 UTILS. WHAT WILL MARGINAL UTILITY OF GOOD X?

Answer 1

Answer:

Every product passes through different stages in its life cycle." - Illustrate the statement with an example.Explanation:

When a product enters the market, often unbeknownst to the consumer, it has a life cycle that carries it from being new and useful to eventually being retired out of circulation in the market. This process happens continually - taking products from their beginning introduction stages all the way through their decline and eventual retirement.

But, how does the product life cycle actually work, and how can analyzing it help companies?

Answer 2

Answer:

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