Business Economics

1: Consumer attains equilibrium when he maximises his utility, given his income and market price of two product of (i) Marginal rate of substitution be equal to the ratio of commodity price i.e. MRS_xy = MU_x / MU_y = P_x /P_y (ii) Indifference curve is convex to the origin.

A.	Only (i) is true
B.	Only (ii) is true
C.	Both (i) and (ii) are true
D.	Neither (i) nor (ii) are true.
	Answer : C Explanation : Write your comments here: Updating your Comments.. Updating your Comments.. Report Error
	Option: A Explanation : Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here.

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