Consumer Equilibrium Class 11 Notes Free Verified 🆓

A consumer is in equilibrium when the marginal utility of a good equals its price.

When MU is zero, TU reaches its maximum point (Point of Satiety). When MU becomes negative, TU begins to decline. 2. Law of Diminishing Marginal Utility (DMU) consumer equilibrium class 11 notes free

. In Class 11 Microeconomics, this is typically analyzed through two main approaches: Cardinal Utility (Marshallian) and Ordinal Utility (Indifference Curve). 1. Cardinal Utility Approach (Marshallian Analysis) A consumer is in equilibrium when the marginal