Write down the conditions required for the consumer’s equilibrium according to the ordinal utility approach.
Cardinal Utility Approach | Microeconomics
Management Notes
Ans) The conditions required for the consumer’s equilibrium according to the ordinal utility approach are as follows:
- Price line must be tangent to the indifference curve.
- Indifference curve should be convex to the origin.
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MBA,BBA.
I am Smirti Bam, an enthusiastic edu blogger with a passion for sharing insights into the dynamic world of business and management through this website.
I hold a MBA degree from Presidential Business School, Kathmandu, and a BBA degree with a specialization in Finance from Apex College,
MBA,BBA.
I am Smirti Bam, an enthusiastic edu blogger with a passion for sharing insights into the dynamic world of business and management through this website.
I hold a MBA degree from Presidential Business School, Kathmandu, and a BBA degree with a specialization in Finance from Apex College,
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