A) he is able to fulfill his needs with a given level of income.
B) his income and expenditure are equal.
C) he can fulfill his needs without consumption of certain items.
D) he is able to locate new sources of income
Correct Answer: A
Solution :
The consumer's effort to maximize total utility, subject to these constraints, is referred to as the consumer's problem. The solution to the consumer's problem, which entails decision about how much the consumer will consume of a number of goods and services is referred to as consumer equilibrium.
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