Question

define consumer equilibrium budget line point ​

Answer 1

Answer:

A consumer is said to have attained equilibrium when he spends given income or budget in such a way as to yield optimum satisfaction, given the prices of two goods and the consumer's preference. In simple words, a consumer is said to be in equilibrium when he is getting maximum satisfaction out of his limited income

Explanation:

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Answer 2

Answer:

• A consumer is said to have attained equilibrium when he spends given income or budget in such a way as to yield optimum satisfaction, given the prices of two goods and the consumer's preference. In simple words, a consumer is said to be in equilibrium when he is getting maximum satisfaction out of his limited income.