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Theory of consumer behaviour — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsTheory of consumer behaviour2 Marks
Question
What is meant by consumer’s equilibrium? State its condition in case of a single commodity.
✓

Answer

Consumer’s equilibrium refers to a situation when a consumer gets maximum satisfaction by spending his income.

Condition of equilibrium: $\frac{\text{M.U. of the good}}{\text{Price of the good}}=\text{M.U. of a rupee}.$

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