What are equilibrium condition if consumer consumes a single commodity
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ᴇǫᴜɪʟɪʙʀɪᴜᴍ ᴄᴏɴᴅɪᴛɪᴏɴ:
ᴄᴏɴsᴜᴍᴇʀ ɪɴ ᴄᴏɴsᴜᴍᴘᴛɪᴏɴ ᴏғ sɪɴɢʟᴇ ᴄᴏᴍᴍᴏᴅɪᴛʏ (sᴀʏ, x) ᴡɪʟʟ ʙᴇ ᴀᴛ ᴇǫᴜɪʟɪʙʀɪᴜᴍ ᴡʜᴇɴ: ᴍᴀʀɢɪɴᴀʟ ᴜᴛɪʟɪᴛʏ (ᴍᴜx) ɪs ᴇǫᴜᴀʟ ᴛᴏ ᴘʀɪᴄᴇ (ᴘx) ᴘᴀɪᴅ ғᴏʀ ᴛʜᴇ ᴄᴏᴍᴍᴏᴅɪᴛʏ; ɪ.ᴇ. ᴍᴜ = ᴘʀɪᴄᴇ. ᴀᴅᴠᴇʀᴛɪsᴇᴍᴇɴᴛs: ɪ. ɪғ ᴍᴜx > ᴘx, ᴛʜᴇɴ ᴄᴏɴsᴜᴍᴇʀ ɪs ɴᴏᴛ ᴀᴛ ᴇǫᴜɪʟɪʙʀɪᴜᴍ ᴀɴᴅ ʜᴇ ɢᴏᴇs ᴏɴ ʙᴜʏɪɴɢ ʙᴇᴄᴀᴜsᴇ ʙᴇɴᴇғɪᴛ ɪs ɢʀᴇᴀᴛᴇʀ ᴛʜᴀɴ ᴄᴏsᴛ.
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