Problem statement: A consumer consumes three units of a product. Marginal utilities derived from the three units are 200,175, 150 respectively. If the price of the good is150/unit, find the consumer surplus.
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A Consumer consumes only two goods X and Y. Marginal utilities of X and Y is 4 and 5 respectively. The prices of X and Y are Rs 4 per unit and Rs 5 per unit respectively. Is the consumer in equilibrium? What will be the further reaction of the consumer? Explain. - Economics | Shaalaa.com
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