

InterviewSolution
Saved Bookmarks
1. |
What is consumer equilibrium in case of two commodity |
Answer» When average product is maximum, marginal product is equal to<br>Positive economics deal with<br>The conditions of equilibrium in two commodities is1.Mux=Muy Px Py2.Marginal utility falls as more units of a commodity consumed.<br>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 | |