Question

what happens when Mux/mx is greater than muy/py ​

Answer 1

Answer:

If MUx / Px is greater than MUy / Py, then the consumer will substitute good 'x' for good 'y'. ... The Law of Equi-Marginal Utility states that the consumer will distribute his money income in such a way that the utility derived from the last rupee spent on each good is equal.

Explanation:

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