A consumer consumes only 2 goods X and Y. The marginal rate of substitution is 1. The prices of X&Y are rupees 3 and rupees 4 per unit respectively. Is the consumer in equilibrium? If not, then what will a consumer do to reach the point of equilibrium
The market for a commodity A is in equilibrium . The price of it input rises . Explain its chain effects on equilbrium price , quantity demanded and supply with the help of a diagram ?
Experts can you pls tell me this is how much marks questions ?
A consumer consumes only 2 goods X and Y. The marginal rate of substitution is 1. The prices of X&Y are rupees 3 and rupees 4 per unit respectively. Is the consumer in equilibrium? If not, then what will a consumer do to reach the point of equilibrium