What is the difference between point of satiety of point of consumer equilibrium
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Consumer’s equilibrium is the situation when a consumer gets maximum satisfaction from consumption of one (or more) goods with his given income and price and feels no urge to change.
Point of Satiety is defined as '' the point where marginal utility of any commodity is zero''. Thus it is a point where satisfaction of any commodity is zero.
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Answer:Consumer's equilibrium is the situation when a consumer gets maximum satisfaction from consumption of one (or more) goods with his given income and price and feels no urge to change. Point of Satiety is defined as '' the point where marginal utility of any commodity is zero''.
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