Ask your own question, for FREE!
Economics - Financial Markets
OpenStudy (anonymous):

what is Consumer's Equilibrium ? How a consumer can be in equilibrium under Ordinal Approach?

OpenStudy (anonymous):

Consumer equilibrium would generally be where the consumer's budget line (what he has to spend) is just contingent to one of the many Indifference Curves that repesent his Indifference between various quantities of the two products in the simplified two product scenario. At that point, he is purchasing all that he can of the two products at the point where he is Indifferent to any other combination of the two products. Does that make any sense. It is a technical answer and require a graph which I can show you. wmw|dw:1338373497391:dw|

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Latest Questions
Acolgrove: who is the most active qeastion cove user
6 minutes ago 29 Replies 0 Medals
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!