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if the marginal utility of a commodity is equal to its price then
Question 1
Report
if the marginal utility of a 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
Answer Details
Read lesson note on The Theory Of Consumer Behaviour (JAMB)
Read lesson note on The Theory Of Demand (JAMB)
The Theory Of Consumer Behaviour
The Theory Of Demand
View Answer