Tag Archives | Consumer Equilibrium Formula

In this article we will discuss about the consumer equilibrium formula with the help of suitable examples.  Suppose, the utility function of the consumer is: U = f (q1, q2)                                        [eq. (6.1)] Where U is the ordinal utility number, and q1 and q2 are quantities of the two goods, Q1 and Q2, that the consumer purchases. It is assumed here [...]