Free Notes Download Link https://t.me/jhansi_institute Hello Students, In today's class we will discuss all these points :
Consumer's Equilibrium Two or More Commodity Case
Several Commodity case Consumer's equilibrium
double or several commodity case consumer's equilibrium

New Session 2022 2023 Economics According to new CBSE Syllabus, Microeconomics Chapter 2 Consumer's equilibrium utility analysis topic double or several commodity case consumer's equilibrium

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CONSUMER'S EQUILIBRIUM
UTILITY ANALYSIS
Two Commodities Case
Speaker Pankaj Raikwar
CHAPTER 3
SESSION 202223
CONSUMER'S EQUILIBRIUM TWO COMMODITIES CASE
The Logic that a Consumer Strikes his Equilibrium for a set of two Commodities X and
Ywhen MUx/Px = MUy/Py can be Extended to any number of Commodities. The Equilibrium Equation for n Number of Commodities would be as under :
CONSUMER'S EQUILIBRIUM TWO COMMODITIES CASE
Units MUx MUy
Question : Aarav has ₹ 88 with him. He intended to
purchase good X and Y with his Money. The Market
price of X and Y per Unit is ₹ 8. Find Out how many
units of X and Y should Aarav purchase so that he
will get maximum satisfaction.
THE BASIC LIMITATION OF UTILITY ANALYSIS
The basic limitation of utility analysis relates to the basic assumption of this analysis:
that utility can be expressed in cardinal numbers. Implying that utility can be measured in units like 1, 2 and 3. Is it really possible? Do you,
as a consumer, ever express your satisfaction in terms of units like 1, 2 and 3? Perhaps never. Satisfaction at best can be ranked as high or low. Or, it can be compared when two goods are simultaneously consumed. It is hard to measure it in figures.
Today's thought
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