Economy, asked by HaqqiAdeeba9325, 1 year ago

What are the conditions of consumer equilibrium under i.C approach? What changes will take place if the conditions are not satisfied to reach equilibrium?

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Answered by Anonymous

Thus the consumer's equilibrium under the indifference curve theory must meet the following two conditions: First: A given price line should be tangent to an indifference curve or marginal rate of satisfaction of good X for good Y (MRSxy) must be equal to the price ratio of the two goods.

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