If the marginal utility of commodity is equal to its pric...
If the marginal utility of commodity is equal to its price, then
The consumer is in equilibrium
More of the commodity can be consumed
Total utility is also equal to its price
The market is not in equilibrium
Correct answer is A
A consumer is in equilibrium when the marginal utility of a commodity is equal to its price if only one commodity is consumed i.e MU x=Px where :
MU = Marginal utility
P= Price of the commodity
x = The commodity
Demand-pull inflation is likely to be caused by ...
Ranking is the method use in measuring ...
The technical relationship between the physical inputs and the physical outputs of a firm is ...
Long-term funds for investment projects are sourced from the ...
The monetary system that requires double coincidence of want is known as ...
Given that demand and price remain unchanged an outward shift of the supply curve will lead to ...
Shares and stocks can be bought in the ...
When the marginal product is negative, the total product will be ...
Which of the following sector is most capital intensive? ...