Economics · Consumer Behavior
In the cardinal utility approach, a consumer's equilibrium for two goods is established at a point where which of the following mathematical conditions is satisfied?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1None of the above
- 2MU1P1 = MU2P2 = Marginal Utility of Money/Income✓
- 3MU1MU2 = P1P2 = Marginal Utility of Income
- 4MU1MU2 = P1P2
Correct answer
MU1P1 = MU2P2 = Marginal Utility of Money/Income
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