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MICROECONOMICS CH : 3 CONSUMER'S EQUILIBRIUM UTILITY ANALYSIS — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 3 CONSUMER'S EQUILIBRIUM UTILITY ANALYSIS3 Marks
Question
What price a consumer is ready to pay for a commodity in a state of his equilibrium?
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Answer

In a state of equilibrium, the price that a consumer is ready to pay for a commodity is the marginal utility of the commodity $($ estimated money worth$).$ Because, in a state of equilibrium: $P_x = MU_x $ $($money worth$).$

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