According to Indifference curve analysis, one of the conditions for the consumer to be in equilibrium is:

(a) MRSxy<Px/Py
(b) MRSxy=Px/Py
(c) MRSxy>Px/Py
(d) None of these

Anurag Mishra Professor Asked on 28th May 2016 in Economics.
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    Answer: (b) MRSxy=Px/Py

    Anurag Mishra Professor Answered on 30th May 2016.
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