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Microeconomics II
book

Microeconomics II

by D.N. Dwivedi
August 2011
Intermediate to advanced content levelIntermediate to advanced
368 pages
14h 51m
English
Pearson India
Content preview from Microeconomics II
General Equilibrium Analysis 269
such proportions that he/she derives the same marginal utility (MU) per unit of expenditure from each
commodity. is condition for consumer’s equilibrium is expressed as follows
MU MU MU MU
1
1
2
2
3
3
P P P P
n
n
= = = =...
is condition applies to each and every consumer. When all the consumers satisfy this condition,
they are in general equilibrium.
The Condition for Production General Equilibrium
e condition for general equilibrium in the production sector requires that, given the technology and
input prices, inputs (labour and capital) are so combined in production of each good that ratio of marginal
revenue prod
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Publisher Resources

ISBN: 9788131797655