a consumer consumes only two goods explain the equilibrium with the help of utility analysis
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[10/4, 9:58 PM] 丹NIKєŦ Mคℓvìyค: 1.Consumer’s Equilibrium It refers to a situation wherein a consumer gets maximum satisfaction from the purchases of given units of the commodity with his given income.
2.Cases of Consumer’s Equilibrium using Marginal Utility Analysis The conditions of consumer’s equilibrium using Marginal Utility analysis is studied under two situations.
(i) When only one commodity is consumed
[10/4, 9:59 PM] 丹NIKєŦ Mคℓvìyค: (ii) When two or more commodities are consumed.
3.Equilibrium in Case of Single Commodity In case of single commodity, consumer attains equilibrium, when
Important Questions for Class 12 Economics Consumers Equilibrium Through Utility Approach-t-2-2
Where, MUX= Marginal Utility of V, Px= Price of V MU m = Marginal Utility of money.
Assumption of equilibrium (One-commodity case)
(a)Cardinal measurement of utility
(b)Price of commodity and income of consumer is constant.
important-questions-for-class-12-economics-consumers-equilibrium-through-utility-approach-t-2-3
4.Equilibrium in Case of Two Commodities In case of two commodities, consumer attains equilibrium,when
important-questions-for-class-12-economics-consumers-equilibrium-through-utility-approach-t-2-4
important-questions-for-class-12-economics-consumers-equilibrium-through-utility-approach-t-2-6
2.Cases of Consumer’s Equilibrium using Marginal Utility Analysis The conditions of consumer’s equilibrium using Marginal Utility analysis is studied under two situations.
(i) When only one commodity is consumed
[10/4, 9:59 PM] 丹NIKєŦ Mคℓvìyค: (ii) When two or more commodities are consumed.
3.Equilibrium in Case of Single Commodity In case of single commodity, consumer attains equilibrium, when
Important Questions for Class 12 Economics Consumers Equilibrium Through Utility Approach-t-2-2
Where, MUX= Marginal Utility of V, Px= Price of V MU m = Marginal Utility of money.
Assumption of equilibrium (One-commodity case)
(a)Cardinal measurement of utility
(b)Price of commodity and income of consumer is constant.
important-questions-for-class-12-economics-consumers-equilibrium-through-utility-approach-t-2-3
4.Equilibrium in Case of Two Commodities In case of two commodities, consumer attains equilibrium,when
important-questions-for-class-12-economics-consumers-equilibrium-through-utility-approach-t-2-4
important-questions-for-class-12-economics-consumers-equilibrium-through-utility-approach-t-2-6
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