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Question
MUX of X is 40 and MUY, of Y is 30. It the price of Y is ₹ 9, then price of X at equilibrium will be ______.
Options
₹ 9
₹ 30
₹ 15
₹ 12
MCQ
Fill in the Blanks
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Solution
₹ 12
Explanation:
\[ \frac{MU_X}{P_X}=\frac{MU_Y}{P_Y} \]
\[ \frac{40}{P_X}=\frac{30}{9} \]
\[ P_X=\frac{40\times9}{30} \]
\[ P_X=\frac{360}{30}=₹12 \]
The price of X at equilibrium will be ₹ 12.
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