Elaborate using schedule and diagram the single commodity case under cardinal approach

Dear Student
This topic is explained in detail in our study material. You can refer to the same following the below-mentioned link and scroll down to the topic  'Consumer Equilibrium in case of Single Commodity  '.

https://www.meritnation.com/cbse/class12-commerce/studymaterial/economics/introductory-microeconomics/theory-of-consumer-behaviour/338_1981_5803#slide1_Cardinal Approach and Utility Analysis, Total Utility and Marginal Utility  

Though some explanation is given below -

Consumer's equilibrium in case of a single commodity determines the units of a commodity that he will buy for a particular market price of the commodity.
In Case of Single Commodity

In case of a single commodity, a consumer attains equilibrium when the utility derived from each additional unit of the rupee spent on the commodity becomes equal to the Marginal Utility of Money. In other words, the consumer attains equilibrium when,

Marginal Utility of a Rupee spent on the commodity = Marginal Utility of Money 

Marginal Utility of a Rupee spent on the commodity- It refers to the utility that is derived from the additional unit of rupee spent on the commodity

Marginal Utility of Money (MU_M)- It refers to the valuation of a unit of rupee. It is assumed to be constant. Thus, consumer’s equilibrium is attained where,

Diagrammatically,

In the figure, MU_m curve is a horizontal straight line (parallel to the x-axis) representing constant Marginal Utility of Money. MU_x curve is downward sloping representing diminishing Marginal Utility of X. The consumer attains consumer's equilibrium at point E, where, the Marginal Utility of a Rupee spent on X is equal to the Marginal Utility of Money.

 
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