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Explain consumer equilibrium with the help …

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Explain consumer equilibrium with the help of diagram

Posted by Sanampreeet Singh 4 years, 2 months ago

CBSE > Class 11 > Economics

1 answers

Prajnasree Behera 4 years, 2 months ago

A consumer is said to be in equilibrium when he feels that he “cannot change his condition either by earning more or by spending more or by changing the quantities of thing he buys”. A rational consumer will purchase a commodity up to the point where price of the commodity is equal to the marginal utility obtained from the thing.

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