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In case of single commodity, consumer's ...

In case of single commodity, consumer's equilibrium is achieved when:

A

`MU_(X) gt P_(X)`

B

`MU_(X) lt P_(X)`

C

`MU_(X) != P_(X)`

D

`MU_(X) = P_(X)`

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The correct Answer is:
D
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SANDEEP GARG-CONSUMER'S EQUILIBRIUM-Revision Exercise
  1. Total Utility is at the point of satiety:

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  2. Marginal Utility (MU) of n^(th) unit is calculated as:

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  3. In case of single commodity, consumer's equilibrium is achieved when:

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  4. measures the slope of indifference curve.

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  5. In the following diagram of budget line, point ''D'' represents :

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  6. How is TU derived from MU ?

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  7. What happends to MU when TU is maximum ?

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  8. An indifference curve always:

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  9. In case of cardinal utility approach, utility is measured in:

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  10. The consumer will be in equilibrium where there is tangency between pr...

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  11. 'Cardinality'' means utility can be:

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  12. The slope of price line (in case of commodites X and Y) is given by:

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  13. Which Law states that. ''When a consumer consumes more and more units ...

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  14. In the context of Indifference Curve Analysis, MRS stands for:

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  15. For consumer's equilibrium to be stable, the requirement is:

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  16. The total utility derived by Shyam by eating 6 apples of 300 utils. Ma...

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  17. The assumption of ''Constant marginal utility of money'' means that im...

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  18. When Economists speak of the utility of a certain product, they are re...

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  19. Utility :

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  20. A consumer in conumption of two commodities A and B is at equilibrium...

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