consumer equilibrium

How Do You Calculate Consumer Equilibrium?

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How Do You Calculate Consumer Equilibrium? According to the law of equi-marginal utility a consumer will be in equilibrium when the ratio of marginal utility of a commodity to its price equals the ratio of marginal utility of other commodity to its price. MUx/Px= MUY/PY= MU of last rupee spent on each good, or simply

What Is Consumer Equilibrium Explain With Diagram?

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What Is Consumer Equilibrium Explain With Diagram? 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. … If this condition is not fulfilled the consumer will either purchase more or less. What is consumer equilibrium explain in detail