Economics · Consumer Behaviour
In a two-commodity framework, consumer equilibrium is attained when:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Marginal utilities of the two goods are equal
- 2Ratio of marginal utilities equals ratio of prices✓
- 3Total expenditure on both goods is equal
- 4Income is fully spent on one good
Correct answer
Ratio of marginal utilities equals ratio of prices
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