Economy, asked by bsmilakpuria, 5 months ago

state the condition of consumer equilibrium in one commodity case

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Answered by siddarth11152

1

Answer:State its condition in case of a single commodity. ... The consumer has to pay a price for each unit of the commodity. So, he cannot buy or consume unlimited quantity. In case of single commodity the consumer is in equilibrium when marginal utility of a good in terms of money becomes equal to the price of that good.

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