Question

Explain the concept of consumer’s equilibrium with a diagram and a table
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Answer 1

Answer:

A consumer is in a state of equilibrium when he maximizes his satisfaction by spending his given income on different goods and services. ... For one-commodity case: Rupee worth of satisfaction actually received by the consumer is equal to the marginal utility of money as specified by the consumer himself.

Explanation:

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Answer 2

Answer:

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