What are the key conditions for consumer equilibrium in indifference curve analysis?

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Economics · Economics

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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All of the above

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Answer 1

Indifference curve should be tangent to the budget line.

Answer 2

Indifference curve should be convex to the origin at the point of equilibrium.

Answer 3

MRSxy should be diminishing at the point of equilibrium.

Answer 4

All of the above

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