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Theory of consumer behaviour — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsTheory of consumer behaviour3 Marks
Question
What is meant by consumer’s equilibrium? State its condition in case of a single commodity.
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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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