Solution - Conditions of Consumer's Equilibrium Using Marginal Utility Analysis

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ConceptConditions of Consumer's Equilibrium Using Marginal Utility Analysis

Question

A consumer consumes only two goods X and Y. Marginal utilities of X and Y are 4 and 3 respectively. Price of X and price of Y is Rs 3 per unit. Is consumer in equilibrium? What will be further reaction of the consumer? Give reasons.

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Solution for concept: Conditions of Consumer's Equilibrium Using Marginal Utility Analysis. For the courses 12th CBSE (Arts), 12th CBSE (Commerce), 12th CBSE (Science)
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