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This question belongs to Commerce Economics

Economics

?

The consumer is said to be in equilibrium when he plans his expenditure on x, y and z commodities in such a way that he ultimately attains

A) $$M{U_X} = M{U_y} = {M_Z}$$ B) $$\frac{{M{U_X}}}{{{P_X}}} = \frac{{M{U_Y}}}{{{P_Y}}} = \frac{{{M_Z}}}{{{P_Z}}}$$ C) $$\frac{{M{U_X}}}{{{P_X}}} = \frac{{M{U_Y}}}{{{P_Y}}} = \frac{{M{U_Z}}}{{{P_Z}}} = M{U_M}$$ D) $$\frac{{M{U_X}}}{{{P_X}}} < \frac{{M{U_Y}}}{{{P_Y}}} < \frac{{M{U_Z}}}{{{P_Z}}} < M{U_M}$$

Answer & Solution

Correct Answer: Option C

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