Question

how much a commodity , a rational consumer decides to buy , would depend on.




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Answer 1

Answer:

it will depend upon the price and income

Answer 2

Explanation:

A consumer is in a state of equilibrium when he maximizes his satisfaction by spending his given income on different goods and services. Any deviation or change in the allocation of in

come under the given circumstance will lead to a fall in total satisfaction.

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.

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