Question

explain consumer equilibrium using one commodity case

(EXPLAIN)​

Answer 1

Answer:

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. The number of units to be consumed of the given commodity by a consumer depends on 2 factors.

Explanation:

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Answer 2

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. The number of units to be consumed of the given commodity by a consumer depends on 2 factors: ... Expected utility (Marginal utility) from each successive unit.