Question

A consumer consumes only 2 goods x and y. Mu of x and y are 3. Prices of x and y are rs2 and rs1 respectively. Is the consumer is in equilibrium. What will be the further reaction of the consumer?

Answer 1

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Answer 2

Answer:

Explanation:

A consumer strikes his equilibrium when MUx / Px = MUy / Py

But in this situation MUx/Px = 3/2 and MUy/Py = 3/1

So consumer is not in equilibrium.