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A consumer consumes only 2 goods …

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A consumer consumes only 2 goods . MRS is 1. Price of X and Y are 3 and 4 p.u. is the consumer in equilibrium?

    • Posted by Jyoti Chopra 7 years, 6 months ago

    CBSE > Class 12 > Economics
    • 2 answers

    Anushka Prasad 7 years, 6 months ago

    Given, MRS= 1 Px = Rs. 3 Py= Rs. 4 MRS= Px/Py 1= 3/4 1>3/4 Which means, MRS> Px/Py So, the consumer isn't in equilibrium. The consumer should increase consumption of goo-x and decrease that of good-y to attain equilibrium.

    2Thank You

    Jyoti Chopra 7 years, 6 months ago

    No

    3Thank You

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