Economy, asked by umerunees1234, 5 days ago

Question No.4 A consumer consumes only two goods X and Y. The consumer chooses a combination of the two goods with marginal utility of X equal to 30 and that Y equal to 20. If price of good X is Rs. 6 per unit, then what will be price per unit of good Y at the point of consumer's equilibrium?​

Answers

Answered by rs4898016
1

Answer:

Solution

A consumer in consumption of two commodities is at equilibrium when : MUXPX=MUYPY

Putting the given values in the equilibrium conditions:

306=20PY

Similar questions