Condition of consumer equllibrium in one …

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Posted by Account Deleted 1 year, 10 months ago
- 2 answers
Prachy Pandey 1 year, 10 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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Kalyan Sundaram 1 year, 9 months ago
1Thank You