Question

Explain the optimal choice of consumer with the help of diagram​

Answer 1

Answer:

The point at which this indifference curve and the budget constraint touch is called the optimum. It relates preferences to consumption expenditures and to consumer demand curves. ... Goods and services purchased by a consumer that provides the highest level of utility possible is the optimal choice.

Answer 2

Answer:

The point at which this indifference curve and the budget constraint touch is called the optimum. It relates preferences to consumption expenditures and to consumer demand curves. ... Goods and services purchased by a consumer that provides the highest level of utility possible is the optimal choice.