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Intermediate Micro Economics – I (ECON – 007)

BA Economics (H) Semester III, UGCF 2023

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The Intermediate Micro Economics – I (ECON – 007) Course for BA (Hons) Economics Semester III, UGCF 2023, Delhi University has been taught by Mr. Dheeraj Suri. The Video Lectures are based upon the books prescribed by the University of Delhi. The Duration of Video Lectures is approximately 50 Hours.

Course Fee : Rs. 7,000

Access of Video Lectures is provided on any one of the following devices:

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till end of Semester III Exams.

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Full Course Video Lectures
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Live online Doubts Sessions (at least twice a week) for resolution of Doubts
Mock Tests at the Website
Video Lectures Cover Theory Portions Exchaustively + Complete Solutions of Back Questions of readings + Solutions of Previous Years Papers + Large Number of Numericals

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Dheeraj Suri

Saving Account Number

392010100053871

Axis Bank, Model Town Branch

Delhi – 110009

IFS Code : UTIB0000392

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GPay Number : +91 9811261671

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Paytm Number : 9899192027

After transfer update us with payment details through Whatsapp at +91 9899192027

Demo Lectures

Course Introduction, UGCF 2023

Chapter 1 Lecture Series Introduction

Intermediate Micro Economics, Lecture #1 (Preferences)

Question Paper 2021 Q1

Question Paper 2020 Q1

Question Paper 2020 Q2

Click here for Demo PDF of Study Material

Demo Quiz

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Consumer Equilibrium Test #1

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3. The Paper has twenty Questions
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1 / 11

In a two good world there is an individual with income m = 3 and utility function is given by u = = x^0.5y^0.5 . The price of good x is Re. 1 per unit and the price of good y is also Re. 1 per unit.

If the individual can consume any non negative amount of good x and y, then the optimum consumption bundle is

x = 1, y = 1

x = 1.5, y = 1.5

x = 2.5, y = 0.5

x = 0, y = 3

2 / 11

In a two good world there is an individual with income m = 3 and utility function is given by u = x^0.5y^0.5. The price of good x is Re. 1 per unit and the price of good y is also Re. 1 per unit.

If the individual can consume either zero unit of good x or at most one unit of x and any non-negative amount of good y, then the optimum consumption bundle is

x = 1, y = 2

x = 1, y = 3

x = 0, y = 3

x = 3, y = 3

3 / 11

In a two good world there is an individual with income m = 3 and utility function is given by u = x^0.5y^0.5. The price of good x is Re. 1 per unit and the price of good y is also Re. 1 per unit.

If both goods x and y can be consumed in integer amounts (i.e., zero unit, one unit, two units etc.) then the optimum consumption bundle is

x = 3, y = 1

x = 1, y = 3

x = 3, y = 0

x = 1, y = 2 or x = 2, y = 1

4 / 11

Suppose a consumers preferences over commodities 1 and 2 can be represented by the utility function U(x₁, x₂ ) = min⁡{ x₁, x₂ } + max{ x₁, x₂ }, where x₁, x₂ ≥0. The prices of the two commodities are 1 and 2 respectively and the consumers income is 150. Which of the following is true?

At the optimum, the consumer should consume 150 units of commodity 1 and none of commodity 2.

At the optimum, the consumer should consume 75 units of commodity 2 and none of commodity 1.

At the optimum, the consumer should consume 50 units of commodity 1 and 50 units of commodity 2.

At the optimum, the consumer should spend equal amount on the two commodities.

5 / 11

There are three commodities - the first commodity has a negative price -1 per unit, the second commodity is priced at +1 per unit and third is priced at +2 per unit. Income of the person is 100 per day. Then which one of the following is not true?

An individual may afford to consume the positive amounts of each per day

An individual may afford to consume any amounts of goods 2 and 3 per day

An individual may afford to consume (0, 0, 60)

An individual may afford to consume (20, 0, 60)

6 / 11

Satish is very conscious about the food he eats. He only eats rotis and dal; a cup of dal costs Rs. 2 while each roti costs Re. 1 and Satish decides to spend Rs. 13 per day on food. Also he decides to consume exactly 5500 calories a day; he has been told that each roti has 1000 calories while each cup of dal has 500 calories. He spends his entire money allotted on foods. Then

He consumes 3 rotis and 5 cups of dal.

He consumes no more than 3 rotis per day.

He consumes no more than 5 cups of dal per day.

Unless we are given some more information about preference, we cannot say what Satish does.

7 / 11

Let the following utility function represent the preference relation of an individual

U(x, y) = x^0.5 + y
Let Px, Py and M denote the prices of good x, y and money income respectively. Px, Py, M > 0

Optimal consumption bundle of the consumer includes

Only good x

Only good y

both goods x and y

cannot say

8 / 11

Let the following utility function represent the preference relation of an individual

U(x, y) = x^0.5 + y
Let Px, Py and M denote the prices of good x, y and money income respectively. Px, Py, M > 0

Given prices, as M increases optimal consumption of x

increases

decreases

remains constant

cannot say

9 / 11

Let the following utility function represent the preference relation of an individual

U(x, y) = x^0.5 + y
Let Px, Py and M denote the prices of good x, y and money income respectively. Px, Py, M > 0

Let Py = 2, Px = 1/4m, optimal consumption bundle includes

Only good x

Only good y

both goods x and y

cannot say

10 / 11

Let the following utility function represent the preference relation of an individual

U(x, y) = x^0.5 + y
Let Px, Py and M denote the prices of good x, y and money income respectively. Px, Py, M > 0

If Px = Py in the optimal consumption bundle

equal amount of x and y is consumed

consumption of x is more than y

consumption of y is more than x

cannot say

11 / 11

Consider the function U defined on R² , where U(x, y) = √(3x + y). which of the following statements is true?

U is strictly concave.

U is strictly quasi concave.

U is both strictly concave and strictly quasi concave.

U is both concave and quasi concave

Your score is

The average score is 28%

Please rate this quiz

Welcome to Prime Academy Delhi

For getting access of recorded video lectures of

Intermediate Micro Economics – I (ECON – 007)

BA Economics (H) Semester III, UGCF 2023

you need to subscribe our course.

If you are not registered at our website then Register Here (After registration please inform us at +91 9899 192027 to get the access)

If you are already registered and have Got the access then Login to watch the Lectures

Quick Links

On Payment of Fee we will create your account on our website & you need to login and download all the lectures & our APP through that login account

Payment Details

To purchase any course you need to transfer the amount either through Google Pay or PhonePe at 9811261671 or Paytm at 9899192027 or Transfer through net banking IMPS into the following account

Account Details

Dheeraj Suri

Saving Account Number

392010100053871

Axis Bank, Model Town Branch

Delhi – 110009

IFS Code : UTIB0000392

Payment App Details

GPay Number : +91 9811261671

PhonePe Number : +91 9811261671

Paytm Number : 9899192027

After transfer update us with payment details through Whatsapp at +91 9899192027

Demo Lectures

Click here for Demo PDF of Study Material

Demo Quiz

Exam Pattern

The Question Paper will be of 90 Marks

Examination scheme and mode shall be as prescribed by the Examination Branch, University of Delhi, from time to time.

Course Content of Our Video Lectures

Lectures are Strictly as per Latest Syllabus for UGCF 2023

Unit I : Consumer Behaviour

Chapter 1 : Preferences and Utility

Number Video Lectures : 19

Duration of Video Lectures : 571 Minutes

Based Upon Chapter 2 Roberto Serrano & Allan M. Feldman

Topics Covered

►Preferences, Assumptions on Prefrences,

►Indifference Curves, Goods, Bads & Neuters,

►Marginal Rate of Substitution,

►Preferences Theory Questions & Numericals,

►Utility, Utility Functions,

►Utility Theory Questions & Numericals

►Serrano Feldman Back Questions

Chapter 2 : Budget Constraint & Consumer’s Choice

Number Video Lectures : 15

Duration of Video Lectures : 470 Minutes

Based Upon Chapter 3 Roberto Serrano & Allan M. Feldman

Topics Covered

►Budget Constraint, Budget Set, Budget Line,

►Pivot & Shift in the Budget Line,

►Kink in the Budget Line,

►Odd Budget Constraints, Intertemporal Budget Line,

►Budget Constraint Theory Questions & Numericals,

►Consumer’s Optimal Choice,

►Consumer’s Equilibrium by Brute Force method, Graphical method, Lagrange Multipliers method

►Consumer’s Optimal Choice for Quasi linear preferences, Kinked IC’s, Perfect Substitutes,

►Serrano Feldman Back Questions

Chapter 3 : Demand Functions

Number Video Lectures : 15

Duration of Video Lectures : 825 Minutes

Based Upon Chapter 4 Roberto Serrano & Allan M. Feldman

Topics Covered

►Demand Functions, Normal & Inferior Goods,

►Demand as a function of Income,

►Income Offer Curves & Engel Curves,

►Demand as a function of Price,

►Ordinary Goods & Giffen Goods,

►The Price Offer Curve & Demand Curve,

►The Inverse Demand Function,

►Demand as a function of Price of Other Good,

►Decomposition of Price Effect into Substitution and Income Effects,

►Slutsky Method of Decomposing Price Effect,

►Hicksian Method of Decomposing Price Effect,

►The Compensated Demand Curve,

►Relationship between Elasticity of Demand & Expenditure,

►The Market Demand Curve,

►Serrano Feldman Back Questions

Chapter 4 : Supply Functions for Labour & Savings

Number Video Lectures : 14