Consumer equilibrium: Hence

Hence, Consumer's Equilibrium is a situation in which a consumer has maximum satisfaction with limited income and does not tend to change his existing way of expenditure. As a consumer has to pay for each unit of commodity, he cannot purchase or consume unlimited quantities. Learn what consumer's equilibrium is and how to graph it with the help of marginal utility and price curves. Understand the laws of equal marginal utility per rupee and substitution that help consumers maximize their satisfaction. What is Consumer Equilibrium? Consumer equilibrium refers to a situation in microeconomics where a consumer achieves the highest level of satisfaction or utility (satisfaction or well-being) from the goods and services they choose to consume, given their budget constraint and the prices of those goods and services. In other words, it represents the point at which consumers maximise their overall satisfaction or utility while staying within their budget. The balance can be obtained from the ... Consumer equilibrium is a point at which a consumer gets maximum satisfaction from the commodities given his or her income and prices.