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A consumer gets 50 utils of …

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A consumer gets 50 utils of utility from the consumption of 1st unit of commodity-X. On the assumption that every additional unit of X,he loses 10 utils of utility,how much unit of X will he consume if,it was available to him of $5 per unit, and his MUm=10

Posted by Gs Bisht 7 years, 7 months ago

CBSE > Class 12 > Economics

1 answers

Bhumika Pruthi 7 years, 7 months ago

Consumer equilibrium is a situtation where consumer gets maximum satisfaction. So consumer is in equilibrium where : What is pays = what he get. So, MUx/Px = MUm So according to question MUx=50 MUm=10 Px=$5 Units. MUx 1. 50 2. 40 3. 30 4. 20 5. 10 Puttin the values in consumer equilibrium equation: 50/5 = 10 10=10 So according to this MUx/Px = MUm So consumer should stop his consumption on consuming 1st unit of commodity

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