Explanation of consumer equilibrium in two …
CBSE, JEE, NEET, CUET
Question Bank, Mock Tests, Exam Papers
NCERT Solutions, Sample Papers, Notes, Videos
Posted by Varsha Dhiman 6 years, 11 months ago
- 1 answers
Test
Related Questions
Posted by Rijum Karlo 1 year, 6 months ago
- 0 answers
Posted by Nandita Sharma 1 year, 6 months ago
- 1 answers
Posted by Niyati Garg 1 year, 5 months ago
- 0 answers
Posted by Naman Jain 1 year, 5 months ago
- 1 answers
Posted by Mehar Ansari 1 year, 6 months ago
- 0 answers
Posted by Sakshi Singh 5 months, 3 weeks ago
- 1 answers
Posted by Dipika Sharma 1 year, 6 months ago
- 0 answers
Posted by Shruti Singh 1 year, 6 months ago
- 0 answers
myCBSEguide
Trusted by 1 Crore+ Students
Test Generator
Create papers online. It's FREE.
CUET Mock Tests
75,000+ questions to practice only on myCBSEguide app
Yogita Ingle 6 years, 11 months ago
Consumer Equilibrium Under Marginal Utility Analysis (Cardinal Approach)
1. Consumer’s Equilibrium refers to a situation where a consumer gets maximum satisfaction out of his given money income and given market price.
2. Consumer’s equilibrium through utility analysis can be ascertained with reference to:
(a) Single Commodity Consumer Equilibrium:
(i) When purchasing a unit of a commodity, a consumer compares its price with the expected utility from it. Utility obtained is the benefit, and the price payable is the cost. The consumer compares benefit and the cost. He will buy the unit of a commodity only if the benefit is greater than or at least equal to the cost.
(ii) Equilibrium Conditions for Single Commodity Consumer Equilibrium
0Thank You