Question

A consumer consumes 2 goods X & Y. their marginal utilities are 100 utils and 80 utils respectively. The prices of both goods are Rs. 8 per unit. Is the consumer in
equilibrium and why? What will be the possible reaction of the consumer if the price of good x falls to Rs.4 per unit?​

Answer 1

Answer:

The prices of both goods are Rs. 8 per unit. Is the consumer in

equilibrium and why? What will be the possible reaction of the consumer if the price of good x falls to Rs.4 per unit.

Price elastic city of a commodity is -1 the consumer Price elastic city of a commodity is -1 the consumer by 50 units when price is Rs.2 per unit how many units will the consumer by if the price is Rs.4 per unit 50 units when price is Rs.2 per unit how many units will Price elastic city of a commodity is -1 the consumer by 50 units when price is Rs.2 per unit how many units will the consumer by if the price is Rs.4 per unit consumer by if the price is Rs.4 per unit