: The sum total of satisfaction from consuming all units of a commodity ( Marginal Utility (MU)
Consumer equilibrium is 3 units of X and 4 units of Y . consumer equilibrium class 11 notes free
Based on the idea that utility can be measured in numerical units called "utils". Ordinal Utility Approach (Indifference Curve Analysis): : The sum total of satisfaction from consuming
Satisfaction decreases as more units are consumed. 0;2a; consumer equilibrium class 11 notes free