Consumers equilibrium

1.	Consumers equilibrium
Answer» Consumer equilibrium\xa0refers to a situation, in which a\xa0consumer\xa0derives maximum satisfaction, with no intention to change it and subject to given prices and his given income.\xa0A rational\xa0consumer\xa0will purchase a commodity up to the point where price of the commodity is equal to the marginal utility obtained from the thing.\xa0If this condition is not fulfilled the\xa0consumer\xa0will either purchase more or less.

Discussion