Which of these is a conditions for consu...

Which of these is a conditions for consumer's equilibrium by indifference curve analysis ?

A

`MU_(X) = P_(X)`

B

`(MU_(X))/(P_(X)) = (MU_(Y))/(P_(Y))`

C

`MRS_(X) = (P_(X))/(P_(Y))`

D

`MU_(X) = MU_(Y)`

Text Solution

Verified by Experts

The correct Answer is:

C

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Knowledge Check

An indifference curve is

A

convex to the origin

B

concave to the origin

C

a straight line curve

D

none of these

An indifference curve always:

A

Slope downwards from left to right.

B

Slopes upwards from left to right

C

Is parallel to the Y-axis

D

Is parallel to the X-axis.

Consumer equilibrium through indifference curve analysis is based on

A

cardinal utility

B

marginal utility

C

ordinal utility

D

none of these

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SANDEEP GARG-CONSUMER'S EQUILIBRIUM-Revision Exercise

Budget set inculdes:
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Indifference curves are :
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Which of these is a conditions for consumer's equilibrium by indiffere...
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If the consumption of an additional unit of a commodity casues no chan...
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An indifference curve is best described as a series of points which sh...
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Marginal Utility (MU) of n^(th) unit is calculated as:
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measures the slope of indifference curve.
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An indifference curve always:
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Which Law states that. ''When a consumer consumes more and more units ...
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In the context of Indifference Curve Analysis, MRS stands for:
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