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Given the market price of a …

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Given the market price of a commodity how many units the consumer will buy?

Posted by Harshit Goyal 7 years, 7 months ago

CBSE > Class 12 > Economics

1 answers

Abhishek Aman 7 years, 7 months ago

A consumer keeps on consuming a good unless he strikes hi equilibrium i.e. MUx/Px = MUm..!! Since the MUm( marginal utility of money or rupee worth of satisfaction that the consumer expects is used as a measuring rod n is hence constant) n the price is given, the units of commodity thus depends on the marginal utility or the additional satisfaction that the consumer derives on successive consumption of goods!! He shall stop when he reaches the above given equation.

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