Question

Differnce between equilibrium of consumer and equilibrium of producer

Answer 1

Answer:

consumer equilibrium : consumer is said to be in equilibrium when he maximises his satisfaction in the given income

&

producer equilibrium : producer is said to be in equilibrium when he succeeded in earning maximum profits in his given resources and prices of the product. it is the situation of profit maximisation.

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Answer 2

Explanation:

consumer equilibrium : consumer is said to be in equilibrium when he maximises his satisfaction in the given income.

producer equilibrium : producer is said to be in equilibrium when he succeeded in earning maximum profits in his given resources and prices of the product. it is the situation of profit maximisation..

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