How can we define consumer equilibrium …

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How can we define consumer equilibrium in case of two commodities

Posted by Anirban Mazumdar 6 years, 10 months ago

CBSE > Class 12 > Economics

4 answers

Mayank Tripathi 6 years, 10 months ago

A consumer is in equilibrium when the condition is satisfied that is the ratio of MUxof Px is equal to MUyof Py

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Shilpa Kathor 6 years, 10 months ago

MUx/Px=MUy/Py

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Abhishek Thakur 6 years, 10 months ago

It is a situation when consumer can maximise his satisfaction when he spents his entire income on the consumption of two goods in such a manner that the satisfaction from each additional rupee spent on two commodities are same.

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Sandeep Nayak 6 years, 10 months ago

consumer equilibrium refers to a situation in which a consumer derives maximum satisfaction with the given price of 2 commodities and income of consumer

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