Question

What does the law of equi marginal utility states? MUY MUY MUZ > MU. a) PX P PZ MUX MU, MUZ b) MU PX P PZ c) MU, * Py = MU, XP, = MU, Pz MU MU, MUZ d) PX P P2 APP MUZ <M .x ​

Answer 1

Answer:

The law states that a consumer should spend his limited income on different commodities in such a way that the last rupee spent on each commodity yield him equal marginal utility in order to get maximum satisfaction.

Condition for a consumer to maximize utility is usually written in the following form:

         MUX/PX = MUY/PY

Explanation:

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