[tex]\ \textless \ br /\ \textgreater \ \ \textless \ br /\ \textgreater \ { { \mathscr{ \fcolorbox{yellow}{red}{ \fcolorbox{yellow}{pink} {\color{Red}{Define consumer's equilibrium .}}}}}} [/tex]
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The state at which a consumer derives maximum utility from the consumption of one or more goods and services given his/her level of income is called consumer's equilibrium. At that level of balance between total utility and income, the marginal utility of a product is equal to its one unit price.
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▶️The state at which a consumer derives maximum utility from the consumption of one or more goods and services given his/her level of income is called consumer's equilibrium. At that level of balance between total utility and income, the marginal utility of a product is equal to its one unit price.◀️
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