Economics · Consumer Behaviour
A consumer purchases a commodity until the satisfaction derived from the last unit consumed is just equal to the sacrifice made in terms of money. This condition refers to:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Budget constraint equilibrium
- 2Consumer's equilibrium in one-commodity case✓
- 3Law of diminishing marginal utility
- 4Maximisation of total utility
Correct answer
Consumer's equilibrium in one-commodity case
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