Whats is consumer equilibrium?? Whats is …
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Yogita Ingle 6 years, 7 months ago
Consumer’s Equilibrium It refers to optimum choice of the consumer. In terms of indifference curve analysis, the consumer achieves his optimum choice when he strikes a balance between what he wishes to buy and what he can buy. i.e. a state of maximum satisfaction given his money income.
Indifference Curve This curve shows different combinations of two goods, each combination offering the same level of satisfaction to the consumer. So that the consumer is indifferent among the various combinations offered to him
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