Home
Class 11
ECONOMICS
Given Px =Rs.10 and Py =Rs.40 and money ...

Given `P_x` =Rs.10 and `P_y` =Rs.40 and money income =Rs.150, find consumer equilibrium from

Text Solution

Verified by Experts

The correct Answer is:
N/a

Consumer is in equilibrium where
`(MU_x)/P_x=(MU_y)/P_y=6`
`(60/10=240/40=6)`
Promotional Banner

Topper's Solved these Questions

  • CONSUMER'S EQUILIBRIUM

    RADHA BHUGANA|Exercise LET US RECAPITULATE|8 Videos

  • CONSUMER'S EQUILIBRIUM

    RADHA BHUGANA|Exercise MCQ|14 Videos

  • CONSUMER'S EQUILIBRIUM

    RADHA BHUGANA|Exercise UNSOLVED NUMERICALS|8 Videos

  • CONCEPTS OF REVENUE

    RADHA BHUGANA|Exercise Unsolved numericals|4 Videos

  • ELASTICITY OF DEMAND

    RADHA BHUGANA|Exercise Unsolved Numericals|24 Videos

Similar Questions

Explore conceptually related problems

Given that income of a consumer is Rs.80, price of x=Rs.10 per unit and price of y=Rs.10 per unit. Find consumer's equilibrium.

A consumer consumers only 2 goods X and Y. The marginal utilities of X and Y is 3. Prices of X and Y are Rs.2 and Rs.1 respectively. Is consumer in equilibrium ? What will be further reaction of the consumer ? Give reasons .

Find 10% less than Rs150

A consumer consumes two goods .His income is Rs.50. P_x =Rs.8 each and P_y =Rs.5 each . Can he buy (i)4 units of x and 3 unit of y ? (ii)5 units of x and 2 units of y ? (iii)Find MRS_(xy) at the point of equilibrium.

Suppose a consumer can buy 6 units of good A and 2 units of good B when he spends his entire income. Price of good A is Rs.10 and that of good B is Rs.8. Calculate money income of consumer.

Given that a consumer's income is Rs.40 and the two goods are equally priced at Rs.10 , identify those bundles which cost him exactly Rs.40.