In this chapter, we will study the behaviour of an individual consumer. The consumer has to decide how to spend her income on different goods1.

CHAPTER 2 ... A consumer will consume that much quantity at which MUx = Px to be in the state of equilibrium. Consumer equilibrium ( In case of two commodities).

Оценка 4,4 (46) It explains that a consumer reaches equilibrium when the marginal utility (MU) of a commodity is equal to its price. If the MU is greater than the price, the ...

Consumer's equilibrium in case of a single commodity can be explained on the basis of the law of diminishing marginal utility. How does a consumer decide as to.

A consumer wants to consume two goods. The prices of the goods are ₹ 4 and ₹ 5 respectively. The consumer's income is ₹ 20. (i). Write ...

Оценка 5,0 (4) When consuming two goods, equilibrium is reached when the marginal utility per rupee is equal for both goods. The assumptions of constant prices, tastes, and ...

What do you mean by consumer equilibrium? A Consumer equilibrium is a situation in which a person gets maximum satisfaction. Q 2.What do you mean ...

Consumer's Equilibrium: A consumer is said to be in equilibrium when he maximizes his satisfaction, given his money income and prices of two commodity. He ...

Presenting to you Class 11 CBSE Best Handwritten Notes of Economics of Chapter 2 – Consumer's Equilibrium. ... Click Here to Download the Notes of Consumer's ...

Q.3. What is meant by consumer's equilibrium? Ans. Consumer's equilibrium is the situation when a consumer gets maximum satisfaction from consumption of one ...