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Consumer equilibrium in case of two …

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Consumer equilibrium in case of two good

Posted by Twinkle Sirmour 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Syed Khabib 7 years, 8 months ago

1.Mux/px =Muy/py =Mum- *The above condition implies in state of equilibrium utility per rupee obtained by the consumer from good x and good y is equal to marginal utility of money. 2.Mux/Muy =px/py- *theabove condition implies in state of eq. Ratio of marginal utilities of two commodities should be equal to the ratio of their prices. 3.mux/px =muy/py- *in state of eq utility per rupee from good x must be equal to the utility per rupee from Good y .☺☺

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