Question

expkain the condition of consumer equilibrium under indifference curve analysis ​

Answer 1

Consumer equilibrium refers to a situation, in which a consumer derives maximum satisfaction, with no intention to change it and subject to given prices and his given income. So, a consumer always tries to remain at the highest possible indifference curve, subject to his budget constraint.

Answer 2

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Consumer equilibrium refers to a situation, in which a consumer derives maximum satisfaction, with no intention to change it and subject to given prices and his given income.So, a consumer always tries to remain at the highest possible indifference curve, subject to his budget constraint.

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