Economics · Consumer Behaviour
A consumer derives utility from consuming two goods — tea (X) and snacks (Y). The prices are Px = ₹10 and Py = ₹20. The consumer's income is ₹200. If the marginal utility of tea (MUx) is 40 utils and of snacks (MUy) is 60 utils, which combination or action ensures progress toward equilibrium according to the law of equi-marginal utility?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Total utility is maximum when Y = 0
- 2MUxPx = MUyPy, equilibrium attained
- 3MUxPx < MUyPy, consume more Y✓
- 4MUxPx > MUyPy, consume more X
Correct answer
MUxPx < MUyPy, consume more Y
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