Economics · Microeconomics
According to the Law of Equi-Marginal Utility, consumer equilibrium is attained at a point where:
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- 1The marginal utility of all goods reaches maximum
- 2The total expenditure becomes zero
- 3The prices of all commodities become equal
- 4The ratio of marginal utility to price is equal across all commodities✓
Correct answer
The ratio of marginal utility to price is equal across all commodities
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