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Condition of consumer equllibrium in one …

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Condition of consumer equllibrium in one commodity case

Posted by Account Deleted 1 year, 7 months ago

CBSE > Class 11 > Economics

2 answers

Kalyan Sundaram 1 year, 7 months ago

Consumer equilibrium refers to a situation where a consumer is having maximum satisfaction with given income and market price and has no tendency to change his way of expenditure. CONDITIONS REQUIRED FOR A CONSUMER TO BE IN EQUILIBRIUM IN CASE OF 1 COMMODITY ARE- 1.Marginal utility should be equal to Price of X. 2.Mu must be decreasing

Prachy Pandey 1 year, 7 months ago

Consumer equilibrium refers to a situation where a consumer is having maximum satisfaction with given income and market price and has no tendency to change his way of expenditure. CONDITIONS REQUIRED FOR A CONSUMER TO BE IN EQUILIBRIUM IN CASE OF 1 COMMODITY ARE- 1.Marginal utility should be equal to Price of X. 2.Mu must be decreasing

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