Question

State the condition of consumer equilibrium using indifference curve analysis

Answer 1

_________ℍℰℽ ℳᗅᝨℰ _________


ℂᝪℕՏႮℳℰℛ ℰℚႮⅈℒⅈℬℛⅈႮℳ. is defined as a situation when he maximizes his satisfaction spending has given and come across different goods with the given prices .






✨ ℍᝪℙℰ ᝨℍⅈՏ ℍℰℒℙՏ ℽᝪႮ ✨

Answer 2

$\huge\mathfrak\red{Bonjour\:Mate}$

$\huge\boxed{Answer}$______✌✌

➡️Consumer's Equilibrium through Indifference Curve: According to indifference curve approach, a consumer attains equilibrium under two conditions: When marginal rate of substitution is equal to ratio of prices of two goods i.e., MRSxy = Px/Py.