Question

define consumer equilibrium​

Answer 1

Answer:

The consumer is in equilibrium when he maximizes his utility, given his income and the market prices.

Basically achieving the best possible deal in accordance with his budget.

Answer 2

Answer:

The state of balance achieved by an end user of products that refers to the amount of goods and services they can purchase given their present level of income and the current level of prices. Consumer equilibrium allows a consumer to obtain the most satisfaction possible from their income.