The document discusses the law of demand theory and the concept of equi-marginal utility. It defines demand and outlines the determinants and characteristics of demand curves. It explains the law of demand, exceptions to the law, and how movement along and shifts of the demand curve occur due to various factors. It then discusses the law of equi-marginal utility, how utility schedules work, and how this law relates to the law of demand through substitution and income effects for consumer equilibrium.

1. Law Of Demand Theory And Equi-marginal Utility Approach Presented by: Adrita Nath Ashwini Kumar Rohit Kishore Shritama Sarkar Upasana Roy Varun Kalra

4. Why Demand ? SATISFACTION NEED WANTS DEMAND PURCHASE

8. Demand Schedule (Hypothetical) 100 200 300 400 500 5 4 3 2 1 Quantity demanded (unit per week) Price of commodity (in Rs)

9. Quantity demanded (Q) Q 1 Q 2 P 1 P 2 E 1 E 2 0 D D Price(P) P 1 - old price P 2 - new price Q 1 – old quantity demanded Q 2 – new quantity demanded DD – demand curve A Linear Demand Curve Demand Curve

30. Utility Schedule - 9 7 5 3 1 -1 -3 0 9 16 21 24 25 24 21 0 1 2 3 4 5 6 7 MUn= (∆TUn / ∆Qn) TUn Units of goods (n)

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