State and explain the conditions of consumer's equilibrium under the i – InterviewSolution

1.	State and explain the conditions of consumer's equilibrium under the indifference curve analysis
Answer» e consumer's equilibrium under the indifference curve theory must meet the following TWO CONDITIONS: First: A given price line should be tangent to anindifference curve or marginal rate of satisfaction of good X for good Y (MRSXY) must be equal to the price RATIO of the two GOODS.

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