Under indifference curve analysis, a consumer is considered to be at equilibrium when certain conditions are met, state these conditions

      

Under indifference curve analysis, a consumer is considered to be at equilibrium when certain conditions are met, state these conditions.

  

Answers


KevinNyabute
(a) Curves should be tangent to the budget line.
(b) Curves should be convex to the origin at equilibrium point.
(c) Consumer should spent entire income on the consumption of the two goods.
kevinnyabute answered the question on February 21, 2018 at 08:54


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