Question

Given the
market price of a good how does a consumer decide as to
how many units of
that good to buy ? Explain

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Answer 1

Answer:

Given the price of the good, a consumer will decide the amount of goods to buy. So, the consumer compares the price of the good with its utility. ... The marginal utility is greater than the price paid for the good, i.e. MUX > PX implies that the consumer is not in equilibrium and buys more of a good.

Explanation:

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