To determine consumer equilibrium we need to know only
A)prices and income.
B)total utility and income.
C)marginal utility and income.
D)prices,income,and marginal utility.
E)prices and marginal utility.

Question

Quizplus · Accepted Answer

To determine consumer equilibrium, we need to compare the marginal utility to price ratios of different goods and the consumer's income. Therefore, we need to know prices, income, and marginal utility.

To Determine Consumer Equilibrium We Need to Know Only