Question

explain in detail about consumer's equillibrium.

Answer 1

consumer equilibrium. The state of balance achieved by an end user of products that refers to the amount of goods and services they can purchase given their present level of income and the current level of prices. Consumer equilibrium allows a consumer to obtain the most satisfaction possible from their income.

Answer 2

The solution to the consumer's problem, which entails decisions about how much the consumer will consume of a number of goods and services, is referred to as consumer equilibrium. This condition states that the marginal utility per dollar spent on good 1 must equal the marginal utility per dollar spent on good 2.