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Utility & Consumer's Equilibrium · Question 50 of 73

Question 50

MediumOriginal question

A consumer pays ₹8 for a good. The MU of his last unit, in rupees, is ₹8. What should he do?

Options for question 50

Show the answer and explanation
CorrectNot quiteAnswer A

Correct answer: A

Explanation

  1. MU in rupees = price is the one-good equilibrium condition.

  2. Any change would lower his net satisfaction.

Concept
Recognising equilibrium
Typical time
70 s
Your time
—
The rule this testsEquilibrium with one good
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Ten questions from Utility & Consumer's Equilibrium, at your own pace.

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Ten questions from Utility & Consumer's Equilibrium, at your own pace.

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