Economics · Consumer Behaviour
For a consumer to reach equilibrium under Indifference Curve analysis, which of the following conditions must be satisfied?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1MRSxy = Px/Py and MRSxy must be diminishing✓
- 2MRSxy = Py/Px and MRSxy must be constant
- 3MRSxy = Py/Px and MRSxy must be increasing
- 4MRSxy = Px/Py and MRSxy must be increasing
Correct answer
MRSxy = Px/Py and MRSxy must be diminishing
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