Question

using a hypothetical table explain the consumer's equilibrium marginal utility analysis under one commodity case also show the consumer surplus in the diagram​

Answer 1

Explanation:

A consumer purchasing a single commodity will be at equilibrium, when he is buying such a quantity of that commodity, which gives him maximum satisfaction. The number of units to be consumed of the given commodity by a consumer depends on 2 factors: Expected utility (Marginal utility) from each successive unit.