A consumer consumes only two goods x and y, whose prices are ?5 and ?6 respectively. If the consumer chooses a condition of two goods with MUx=35 and MUy=30. Calculate the equilibrium.
Solution:
Equilibrum is at MUx/Px = MUY/PY
35/5 = 30/6
7 is not equal to 5.
Note= As it seems there is some error in the given data. You are requested to check the data of the question and post the thread again.Looking forward to hear again from you.
Equilibrum is at MUx/Px = MUY/PY
35/5 = 30/6
7 is not equal to 5.
Note= As it seems there is some error in the given data. You are requested to check the data of the question and post the thread again.Looking forward to hear again from you.