What do you understand by the equilibrium point of indifference curve?

1.	What do you understand by the equilibrium point of indifference curve?
Answer» ANSWER: At the POINT of consumers equilibrium, the MARGINAL RATE of substitution of the goods must be falling for consumers equilibrium to be steady. It means that the indifference curve must be convex to the origin at the equilibrium point.

Answer»

At the POINT of consumers equilibrium, the MARGINAL RATE of substitution of the goods must be falling for consumers equilibrium to be steady. It means that the indifference curve must be convex to the origin at the equilibrium point.

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What do you understand by the equilibrium point of indifference curve?

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