☰
✕

Theory Of Consumer Behaviour
Question
Wired Faculty App

A consumer is in equilibrium when he earns maximum profit.

Answer

False because a consumer is in equilibrium when he gets maximum satisfaction from purchase of a good.

Sponsor Area

Some More Questions From Theory Of Consumer Behaviour Chapter

When does a consumer attain equilibrium according to indifference curve approach?

Give meaning of demand.

 Name two determinants of demand.

List the factors that cause changes in demand.

What is law of demand?

What is demand schedule?

Why does demand curve slope downwards?

Differentiate between substitute and complementary goods.

What is meant by one good being substitute of other?

What is meant by one good being complementary to another.