A consumer is in equilibrium when
...A consumer is in equilibrium when
His market Supply is equal to his market demand
He maximizes his satisfaction from spending his income
The market is also in equilibrium
He has consumed all he wants
Correct answer is B
A consumer is in equilibrium when he derives maximum satisfaction from the goods, given his income and the market prices.
The active intervention of the central authorities in the management of a country's economy rest...
Imperfect market is characterized by ...
The backward bending supply curve of labour indicates? ...
The effect of the demand for product A caused by a change in the price of product B is called? ...
The opportunity cost of a worker going to the university is ...
Which of the following is a reward to a factor of production? ...
Macro-economics is a study of economics science from the point of view of ...
An increase in the discount rate is an indication of a central bank's intention to pursue ...