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InterviewSolution
| 1. |
State the conditions of consumer equilibrium in case of indifference curve approach |
| Answer» <html><body><p><br/></p>Solution :Budget line is tangent to <a href="https://interviewquestions.tuteehub.com/tag/indifference-1041534" style="font-weight:bold;" target="_blank" title="Click to know more about INDIFFERENCE">INDIFFERENCE</a> <a href="https://interviewquestions.tuteehub.com/tag/curve-941741" style="font-weight:bold;" target="_blank" title="Click to know more about CURVE">CURVE</a> (<a href="https://interviewquestions.tuteehub.com/tag/convex-933348" style="font-weight:bold;" target="_blank" title="Click to know more about CONVEX">CONVEX</a> to origin) (if) MRS =<a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> <a href="https://interviewquestions.tuteehub.com/tag/ratio-13379" style="font-weight:bold;" target="_blank" title="Click to know more about RATIO">RATIO</a></body></html> | |