Explain consumer equilibrium in case of one commodity with condition
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Answer:
The law of DMU can be used to explain consumer 's equilibrium in case of a single commodity. Therefore, all the assumptions of Law of DMU are taken as assumptions of consumer 's equilibrium in case of a single commodity.
Explanation:
A consumer purchasing a single commodity will be at equilibrium, when he is buying such a quantity of that commodity, which gives him maximum satisfaction.
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