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Unit-5 Consumer Equilibrium - Cardinal and Ordinal Approaches
In this unit, we continue the discussion on demand and focus our attention on consumer’s behaviour in order to explain the law of demand.
The following table shows total utility (TU) and marginal utility (MU) schedules of Roomali roti and Chicken curry for an individual consumer.
Suppose that consumer’s income is Rs.12 and prices of Roomali roti and Chicken curry are Rs.2 per 100 gm. each. What is the utility maximising combination of Roomali roti and Chicken curry?
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