Economy, asked by vijayna1477, 4 months ago

When consumer is consuming single commodity how attend equilibrium

Answers

Answered by anshika1802
2

Answer:

Hello mate

Explanation:

In addition to condition of “MU = Price”, one more condition is needed to attain consumer's equilibrium: “MU falls as consumption increases”. However, this second condition is always implied because of operation of Law of DMU. So, a consumer in consumption of single commodity will be at equilibrium when MU = Price.

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