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consumer consume only 2 goods x and y whose price are RS.5 and RS.4 respectively if consumer choose combination of two good with marginal rate x equal to 4 and y equal to 5 if co sumer in equilibrium why or why not ? what will a rational consumer do in this situation ? explain use utility analysis
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consumer consume only 2 goods x and y whose price are RS.5 and RS.4 re...
MUx/Px= MUm -1MUy/Py=MUm. -2
From 1and2
MUx/Px = MUy/Py
MUx =4MUy=5Px= 5Py=4
This implies that 4/5 is not equal to 5/4 Due to which consumer is not at equilibrium.To be on equilibriumConsumer should consume more of good Y and less of good X due to which MUy falls as more of unit consumed and MUx rises till both become equal
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consumer consume only 2 goods x and y whose price are RS.5 and RS.4 respectively if consumer choose combination of two good with marginal rate x equal to 4 and y equal to 5 if co sumer in equilibrium why or why not ? what will a rational consumer do in this situation ? explain use utility analysis
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consumer consume only 2 goods x and y whose price are RS.5 and RS.4 respectively if consumer choose combination of two good with marginal rate x equal to 4 and y equal to 5 if co sumer in equilibrium why or why not ? what will a rational consumer do in this situation ? explain use utility analysis for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about consumer consume only 2 goods x and y whose price are RS.5 and RS.4 respectively if consumer choose combination of two good with marginal rate x equal to 4 and y equal to 5 if co sumer in equilibrium why or why not ? what will a rational consumer do in this situation ? explain use utility analysis covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for consumer consume only 2 goods x and y whose price are RS.5 and RS.4 respectively if consumer choose combination of two good with marginal rate x equal to 4 and y equal to 5 if co sumer in equilibrium why or why not ? what will a rational consumer do in this situation ? explain use utility analysis .
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