Question

a consumer consumes only two commodities explain his equilibrium with the help of utility approch with diagram​

Answer 1

Answer:

In case of two commodities, the consumer's equilibrium is attained in accordance with the Law of Equi-Marginal Utility. It states that a consumer allocates his expenditure on two goods in such a manner that the utility derived from each additional unit of the rupee spent on each of the commodities is equal.