Class 11 Notes |work|: Consumer Equilibrium
| Units | MUx | MUy | |-------|-----|-----| | 1 | 20 | 16 | | 2 | 16 | 12 | | 3 | 12 | 8 | | 4 | 8 | 4 | | 5 | 4 | 2 |
1. Introduction Consumer Equilibrium refers to a situation where a consumer maximizes their total utility (satisfaction) given their income and the prices of goods and services. At this point, the consumer has no tendency to change their spending pattern. consumer equilibrium class 11 notes