At the consumers optimum1 it is still possible for the, Ask an Expert

Economics

At the consumer's optimum:

1. It is still possible for the consumer to increase his consumption of both goods.

2. The slope of the indifference curve is equal to the slope of the budget constraint.

3. The budget constraint will have a slope of MU_x/P_x.

4. The indifference curve will intersect the budget constraint at the midpoint of the budget constraint.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91224094

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