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Explain the concept of consumer equilibrium in terms of the Equi-marginal principle. Provide appropriate graph for explaining you answer Suppose you have a budget of
Explain the concept of consumer equilibrium in terms of the Equi-marginal principle. Provide
appropriate graph for explaining you answer
Suppose you have a budget of 1000 taka. The price of one unit of X is 20 taka, and the price of one
unit of Y is 10 taka. If X provides you utility and Y gives you disutility, what is the equilibrium amount
of X and Y for the consumer? Explain your answer using appropriate graph.
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