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प्रश्न
State whether true or false:
A consumer in consumption of single commodity equates price of the commodity with total utility.
चूक किंवा बरोबर
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उत्तर
This statement is false.
Explanation:
- For a single commodity, the consumer compares price with the marginal utility expressed in monetary terms.
- The equilibrium condition is marginal utility equal to price, not total utility equal to price.
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