Educhamp academy - Understanding Consumer's Equilibrium by Indifference Curve Analysis!Consumer equilibrium refers to a situation, in which a consumer derives maximum satisfaction, with no intention to change it and subject to given
Enotes World - Price/Budget Line/Budget Constraint ------------------------------------------------------ The budget line is the locus of different combinations of two goods which gives an equal level of total expenditure to the consumer. Therefore, it
SOLVED: If the slope of the indifference curve between goods X and Y is steeper than the slope of the budget line, and X is on the horizontal axis:.a. MRS = −PX/PY.b.
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