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What is consumer equilibrium in case of two commodity |
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Answer» When average product is maximum, marginal product is equal to Positive economics deal with The conditions of equilibrium in two commodities is1.Mux=Muy Px Py2.Marginal utility falls as more units of a commodity consumed. Consumer equilibrium refers to the condition in which he buys a commodity in such way that give him maximum satisfaction and he feels no urge to change.yji |
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