Takshila Learning
August 3, 2018 

What is Marginal Utility and Law of Diminishing Marginal Utility?

What is Marginal Utility and Law of Diminishing Marginal Utility?

Category : Education

Equilibrium refers to maintaining a balance between the two variables at the same level. A consumer is considered to be at the state of equilibrium when he gets the maximum amount of satisfaction, for the number of products and services he is willing to purchase at present level of income and current level of price. It is the point consumer gets the maximum amount of Utility.

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