Question

why is consumer equilibrium important to the economics

Answer 1

The state of balance achieved by an end user of products that refers to the amount of goods and services they can purchase given their present level of income and the current level of prices. Consumer equilibrium allows aconsumer to obtain the most satisfaction possible from their income.

Answer 2

Equilibrium is a state of balance indicating that everything in the market is stable.

When the consumers unlimited wants are at equilibrium,then thew economy should think of producing other goods which will change the preference and taste of consumer hence aiming at developing the economy to higher levels at prevailing markets prices.