What price, a consumer is ready to pay for a commodity in state o… - Vidyadip

Question

What price, a consumer is ready to pay for a commodity in state of equilibrium?

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Answer

In a state of equilibrium, the price that the consumer is ready to pay, is exactly equal to the price prevailing in the market. Because in a state of equilibrium, money worth of Marginal Utility, that the consumer gets, is exactly equal to the market price, he has to pay.

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