In this article we will discuss about the conditions for consumer equilibrium. 1. Consumer Equilibrium – Single Commodity Case: Now see how the consumer buying a single good in the market, would behave. Let’s assume: (i) The purchase would be confined to only one commodity. (ii) The price of the commodity is given in the market. The consumer only determines [...]
In this article we will discuss about the conditions for consumer equilibrium. 1. Consumer Equilibrium – Single Commodity Case: Now see how the consumer buying a single good in the market, would behave. Let’s assume: (i) The purchase would be confined to only one commodity. (ii) The price of the commodity is given in the market. The consumer only determines [...]
In this article we will discuss about the conditions for consumer equilibrium. 1. Consumer Equilibrium – Single Commodity Case: Now see how the consumer buying a single good in the market, would behave. Let’s assume: (i) The purchase would be confined to only one commodity. (ii) The price of the commodity is given in the market. The consumer only determines [...]