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How does a consumer reach equilibrium po...

How does a consumer reach equilibrium position when he is buying only one commodity ? Explain with the help of utility schedule.
OR
Given the market price of good, how does a consumer decided as to how many units of that goods to buy ? Explain
OR
Explain conditions determining how many units of a good consumer will buy at a given price.

Answer

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Knowledge Check

  • Given total utility schedule of a good, how many units of tha good the consumer will buy if the price per unit is rupees 4 .

    A
    1 unit
    B
    2 units
    C
    3 units
    D
    0 unit

    • Similar Questions

    Explore conceptually related problems

    There is given the market price of a piece of goods , how does a consumer decides as to how many units of that piece of goods to buy .

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    How is equilibrium price of a commodity determined? Explain with the help of a demand and supply schedule

    A consumer consumes only two good. Explain equilibrium with the help of utility approach.

    When does a consumer buy less of a commodity at a given price?

    How does change in price of a substitute good affect the demand of the given good ? Explain with the help of an example

    A cosumer consumes only two good . Explain consumer's equilibrium with the help of utility analysis.

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