Economy, asked by hafairajuSaindhur, 1 year ago

Explain the conditions determining how many units of a good the consumer will buy at a given price?

Answers

Answered by DEVESHKHARKWALDEV

The consumer will buy upto such units of a good at which he will obtain maximum satisfaction, i.e. he will go on buying till equilibrium is struck.

Consumer's Equilibrium is attained when:
MUx (in utils) ÷ MUm = Px

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