The concept of 'Consumer Equilibrium' under utility analysis is achieved when:
A. Marginal utility is maximum
B. Total utility is zero
C. MU of a commodity is equal to its price
D. Price is zero
Answer: Option C
Solution (By JKSSB Mock Tests)
A consumer is in equilibrium when the marginal utility derived from a commodity equals its price (or MU per unit of money is equalised across commodities).
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