Question

The marginal utility schedule of commodity X and commodity Y for a consumer is as follows:
Unit of X
MU of X
Unit of Y
MU of Y

1
8
1
14

2
6
2
10

3
4
3
6

4
2
4
4

5
1
5
2


If the total money spent by the consumer is Rs. 16 and Price of X is Rs. 2 and Price of Y is Rs. 5, determine consumer’s equilibrium.

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Answer 1

Answer:

money spent by the consumer is Rs. 16 and Price of X is Rs. 2 and Price of Y is Rs. 5, determine consumer’s equilibrium money spent by the consumer is Rs. 16 and Price of X is Rs. 2 and Price of Y is Rs. 5, determine consumer’s equilibrium.