Economy, asked by kunalpatwa9560346921, 5 months ago

8. Given the market price of a good, how does a consumer decide as to how many units of that good to
buy? Explain

Answers

Answered by anamikadubey1981

1

Answer:

In order to decide, how much of a good to buy at a given price, a consumer compares Marginal Utility (MU) of the good with its price (P). The consumer will be at equilibrium, when the Marginal Utility of the good will be equal to the price of the good.

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