Question

explain consumers equilibrium ising IC analysis. use diagram.​

Answer 1

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Theory Of Consumer Behaviour. Explain the condition of consumer's equilibrium using indifference curve analysis. Use Diagram. ... According to indifference curve approach, a consumer attains equilibrium under two conditions: (i) When marginal rate of substition is equal to ratio of prices of two goods i.e., MRSxy = Px/Py.