Explain the conditions of consumer’s equilibrium …
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Posted by Rudra Dey 5 years, 2 months ago
- 2 answers
Jasmeet Deswal 5 years, 2 months ago
There are two necessary condition to attain consumer's equilibrium in case of two commodities
1)The ratio of marginal utility to price is same in the case of both goods.
2)MU falls as consumption increases
Units MU of. MU od
Commodity x. Commodity y
1 20 16
2 14 12
3 12 8
4 7 5
5 5 3
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Happiness Gupta 5 years, 2 months ago
0Thank You