Question

explain the condition of consumers equilibrium using in difernece cuve analysis​

Answer 1

Answer:

Consumer's Equilibrium through Indifference Curve. 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. ... Therefore at point of equilibrium, MRSxyshould be diminishing.

Explanation:

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Answer 2

Answer:

Explain. Consumer's Equilibrium through Indifference Curve. 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. ... Therefore at point of equilibrium, MRSxyshould be diminishing.