Explain consumer equilibrium with the help of indifference curve
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Explain consumer’s equilibrium with the help of Indifference curve and budget line ? (8.75)
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Consumer equilibrium refers to a situation, in which a consumer derives maximum satisfaction, with no intention to change it and subject to given prices and his given income. ... So, a consumer always tries to remain at the highest possible indifference curve, subject to his budget constraint.
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