Which of the following are conditions of consumer’s equilibrium in a two commodity case where U = utility and P1 and P2 are prices of two goods ?
A. U/X = 0
B. U1/U2 = 0
C. 2U/X2 < 0
D. None of the above
Answer:D
Which of the following are conditions of consumer’s equilibrium in a two commodity case where U = utility and P1 and P2 are prices of two goods ?
A. U/X = 0 B. U1/U2 = 0 C. 2U/X2 < 0 D. None of the above