A comsumer buys a combination of two goods: X and Y with marginal utilities equal to 30 utils and 35 utils respectively. Price of X is Rs 6 per unit. The consumer will be in equilibrium only when price of Y is 7 per unit.

A comsumer buys a combination of two goods: X and Y with marginal util

1.	A comsumer buys a combination of two goods: X and Y with marginal utilities equal to 30 utils and 35 utils respectively. Price of X is Rs 6 per unit. The consumer will be in equilibrium only when price of Y is 7 per unit.
Answer» <html><body><p><<a href="https://interviewquestions.tuteehub.com/tag/p-588962" style="font-weight:bold;" target="_blank" title="Click to know more about P">P</a>><br/></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Because equilibrium condition is met in this <a href="https://interviewquestions.tuteehub.com/tag/case-910082" style="font-weight:bold;" target="_blank" title="Click to know more about CASE">CASE</a> as under: <br/> `(MU_(X))/(P_(X)) = (MU_(Y))/(P_(Y)) " or " (30)/(6) = (<a href="https://interviewquestions.tuteehub.com/tag/35-308504" style="font-weight:bold;" target="_blank" title="Click to know more about 35">35</a>)/(7)`</body></html>